Chinese leader Xi Jinping has long made clear his vision that semiconductors will help the regime overtake the United States as a global technological superpower. Xi’s ambition, however—for China to produce 70 percent of its microchips at home by 2025—is now a distant dream.
Standing in the way of Beijing’s ambitions is a set of sweeping U.S. export controls enacted in October 2022 that aim to hamstring the regime’s power to buy high-end chips or make those of their own.
