The coronavirus has disrupted supply chains and demand across the global economy, but it is the prospect of Europe becoming a casualty in the ...
GUANGZHOU, China: The coronavirus has disrupted supply chains and demand across the global economy, but it is the prospect of Europe becoming a casualty in the US-China tech war that keeps the president of the European Chamber in China"awake at night".
He was due to attend the launch of a confidence survey from the chamber's south China chapter in Guangzhou, but stayed away due to the re-emergence of coronavirus in the capital. "We have a complete reliance on American semiconductors, as does China," he said."We also have a huge market here . The move effectively banned US firms from doing business with the world's largest telecom network gear maker and escalated a trade battle between the world's two biggest economies.
"But they can’t really compete here, which of course gives you a very, very big disadvantage, because China is 50 per cent of the possible 5G market."
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