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Biden Attempts to Box Out China

Posted September 15, 2022

Ray Blanco

By Ray Blanco

Biden Attempts to Box Out China

There is no tech economy without the global tech economy, but how do you protect important information from competitors and even hostile nations? 

Well, when it comes to the US, the latest development is that the Biden administration is issuing an executive order aimed at putting together a panel to screen foreign tech investments for risks to national security. 

The panel will look to increase scrutiny of deals that carry a potential for China and other less-than-friendly nations to gain access to critical tech advantages or may endanger supply chains and personal data.

A particular concern cited in the order is securing supply chains. The panel must comb through investments that could give a foreign power control of crucial manufacturing capabilities, resources, or technologies.

The US already leads the world in research and development but the Biden Admin has been hot on regaining American tech independence by bolstering production capabilities. Through a wave of funding and subsidies, Biden hopes to incentivize semiconductor manufacturers in particular to build factories on US soil. 

In a statement from earlier today, an administration official said “foreign investment is key to supporting American workers, businesses, and growth in the United States, but some countries exploit our open investment ecosystem to further their national security priorities in ways that are directly contradictory to our values and interests.”

Traditionally, the U.S. semiconductor industry has been concentrated in Silicon Valley, California. The epicenter of future semiconductor production, however, will be much more dispersed, spread out in places like Arizona, Texas, and Ohio.

Last year, a record 260,000 manufacturing jobs were created by companies reshoring to the U.S., or foreign companies investing in moving new production to the U.S. This year, 350,000 such jobs are expected. 

Automotive products, pharmaceuticals, and over a dozen lithium battery plants under construction or on the drawing board — it’s all part of what’s been described as the largest industrialization in U.S. history, or in this case, re-industrialization.

Just outside Columbus, Ohio, grounds are being prepared. Construction is starting on 1,000 acres, a site that will employ 3,000 at what will become the world’s largest advanced semiconductor manufacturing facility. It’s an initial $20 billion investment that could grow into $100 billion.

While these constructions won’t be completed for a few years, it provides a great opportunity to get in on the ground floor with some of the top semiconductor names who will be building in the US. 

I also expect plenty more developments out of this ongoing situation… Positive news alone has the potential to send certain semiconductor names soaring. 

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