Semiconductors: The Geopolitics of the New Oil

The United States has introduced new export controls to restrict Chinese companies access to the most advanced computer chips which can be used to develop cutting-edge technologies with military applications.The commerce department announced these restrictions last week which will make it extremely difficult for Chinese companies to obtain or manufacture advanced computer chips and will slow their progress in artificial intelligence.The measures are also designed to make it much tougher for China to develop supercomputers with military applications that range from modelling nuclear weapons to developing hypersonic weapons.These restrictions come days before the Chinese Communist party holds its 20th national congress at which President Xi Jinping is expected to seal a third term as leader.Book Suggestion:  Chip War by Chris Miller https://amzn.to/3yA3XmgPatrick's Books:Statistics For The Trading Floor:  https://amzn.to/3eerLA0Derivatives For The Trading Floor:  https://amzn.to/3cjsyPFCorporate Finance:  https://amzn.to/3fn3rvCPatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatrick Boyle YouTube Channel Support the show