President Biden Signs Chip and Science Act

U.S. President Biden signed the Chip and Science Act on August 9th, writing a $280 billion plan into law to promote U.S. semiconductor manufacturing and scientific research.

Biden said the day of signing was constructive and approval of the Act was an investment in America itself once in a generation. Amid the global semiconductor shortage, a bipartisan agreement to restore American innovation in opposition to growing threat from the Chinese Communist Party (CCP). Lawmakers worry that without government intervention, chipmakers will continue to offshore new foundries to Communist China, leaving U.S. with little room to profit.
The Act includes $52 billion in funding to encourage chipmakers to set up factories domestically. The act also funds to several quantum technologies to support the development of quantum network infrastructure, national quantum computer research, quantum workforce development, and access to U.S. quantum program hardware and cloud storage established for research.

Miles Guo said that there will be a war between West and the CCP. If the U.S. and Europe do not counter the CCP technology in terms of technology, especially Internet technology, and if they cannot clear the landmines of technology and finance planted by the CCP, Russia, Iran and other evil countries in the Middle East and Europe, the West will be completely unable to win the CCP’s economic war. The Chip and Technology Act is a response to the technology unrestricted war.