The US government's new export controls are wreaking havoc on China's chip industry. New rules around "US persons" are driving an "industry-wide decapitation." The following is the translation of a thread posted earlier this week by @lidangzzz . "Lots of people donāt know what happened yesterday. To put it simply, Biden has forced all Americans working in China to pick between quitting their jobs and losing American citizenship. Every American executive and engineer working in Chinaās semiconductor manufacturing industry resigned yesterday, paralyzing Chinese manufacturing overnight. One round of sanctions from Biden did more damage than all four years of performative sanctioning under Trump. Although American semiconductor exporters had to apply for licenses during the Trump years, licenses were approved within a month. With the new Biden sanctions, all American suppliers of IP blocks, components, and services departed overnight āā thus cutting off all service [to China]. Long story short, every advanced node semiconductor company is currently facing comprehensive supply cut-off, resignations from all American staff, and immediate operations paralysis. [Translation of the DMs in a screenshot: Person A: Everyone from Lam Research at Yangtze Memory left today, and on the 12th the AMAT folks will leave as well https://twitter.com/jordanschnyc/status/1580889341265469440?s=46&t=jBG-yqUQJqD0YtPnYKJj7Q
I see this as slowing down the rise of a rival force and at the same time us need to cut government expenses (which I donāt know how thatās possible), raise tax, reduce deficit, stop printing dollar
Yawn. Thereās been 28nm exports control on all US companies since 2013, and 43nm since 2007. Democrats blowing off horns on bills and laws which are already enforced and adhered to long ago
More coverage on the story: What happened in China yesterday is massive. I havenāt seen anything as big in my lifetime. Basically Biden said to American engineers working in China in the semiconductor to either resign or be ready to lose their American citizenship. Everyone resigned. Industry collapsed. China's Semiconductor Industry 'Decapitated Overnight': What 'Annihilation Looks Like' https://twitter.com/abhishek_tri/status/1581242514475884545?s=46&t=AZSwechpDNEbzBuV26-v_w
This is absolute BS and written by someone who is totally and absolutely ignorant about US citizenship. āIf you are a U.S. citizen because you were born in the United States, you can give up your U.S. citizenship by performing certain acts, but the U.S. government canāt just take it away from you. If you became a U.S. citizen through the process of ānaturalizationā (applying for U.S. citizenship), however, the U.S. government can revoke your U.S. citizenship under certain circumstances.ā https://www.lawyers.com/legal-info/immigration/citizenship/can-u-s-citizenship-be-revoked.html
There are already export control on all critical tech. They just stop and ask us to apply for license to continue working which takes 30-60 days. This is all bullshit noise to prep for mid term election. Democrat is really desperate.
Choose between their jobs and their US citizenship?! ROTF LMFAO! š¤£š¤£š¤£š¤£š¤£š¤£š¤£š¤£š¤£š¤£š¤£š¤£ Making such BS tweets that clearly shows the posterās total and absolute ignorance about US citizenship puts the credibility of such tweets under tons of question marks. āIf you are a U.S. citizen because you were born in the United States, you can give up your U.S. citizenship by performing certain acts, but the U.S. government canāt just take it away from you. If you became a U.S. citizen through the process of ānaturalizationā (applying for U.S. citizenship), however, the U.S. government can revoke your U.S. citizenship under certain circumstances.ā https://www.lawyers.com/legal-info/immigration/citizenship/can-u-s-citizenship-be-revoked.html
How is this affecting folks working at semi companies in the US? Any information you can share beyond what's in that Twitter thread?
Our stocks are tanking