China certainly faced a Sputnik-scale shock after the U.S. banned sales of chips to firms like Huawei. Dan Wang, one of the smartest analysts of China’s tech policy, has argued that American restrictions have “boosted Beijing’s quest for tech dominance” by catalyzing new government policies to support the chip industry. In the absence of America’s new export controls, he argues, Made in China 2025 would have ended up like China’s previous industrial policy efforts, with the government wasting substantial sums of money. Thanks to U.S. pressure, China’s government may provide Chinese chipmakers
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