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China criticizes US Chips Act, saying it poses a threat to its business

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China criticizes US Chips Act, saying it poses a threat to its business

As expected, the US signed Finally, this Wednesday, his bill to increase the production of chips in the country. This Chip Act aims to reduce US dependence on the sector, making it a more autonomous and self-sufficient nation.

But China was quick to respond to this measure, subjecting it to harsh criticism. According to the country, the US Chip Act is a real threat to Chinese trade and business.


China criticizes US Chip Act

According to last informationChina has already responded to US President Joe Biden's signing of a new US bill to increase the country's chip production. The reactions took place this Wednesday (10) and China says this chip law is a real threat to Chinese trade and business.

The same law was also signed on Wednesday and provides for a $52 billion investment to help increase the production of electronic chips. To this end, the country therefore intends to reduce the dependence that the United States still has on other countries, namely China and Taiwan. It is also a way to avoid the consequences of a possible Chinese attack on Taiwan, since the latter country produces up to 90% of the most advanced chips, mainly in the hands of the manufacturer TSMC.

According to Foreign Ministry spokesman Wang Wenbin, this measure will "disrupt international trade and distort global semiconductor supply chains. China is categorically against it."Wang also added that some parts of the Chip Law."restrict normal business investment and economic and commercial activities in China".

Wang Wenbin, spokesman for the Chinese Ministry of Foreign Affairs

COVID-19 has revealed the need of various sectors for the production of chips, as well as a large dependence on Chinese and Taiwanese production. The pandemic is now a more manageable problem, but war, inflation, and especially the possibility that China will try to retake the territory of Taiwan, which was partitioned in 1949 after a civil war, raise several warning signs of a possible shortage of the component. .

Earlier this month the US also banned supply of equipment for the production of 14 nm chips to China. On the other hand, Taiwan wants to take its compatriot Foxconn into Leave its stake in the Chinese manufacturer Tsinghua Unigroup.

Also, upon the arrival of Pelosi, speaker of the US House of Representatives, in Taiwan, following threats from Beijing, the US Navy put next to the island is an aircraft carrier and other combat units.

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Economy

Do you want to apply for a home loan? Banks will limit the maximum amount they are allowed to lend to 30%

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Do you want to apply for a home loan?  Banks will limit the maximum amount they are allowed to lend to 30%

The increase in Euribor rates will limit the maximum amount banks are allowed to lend, and cuts could be around 30% as early as next month, Público reported on Monday. Debt reduction will also particularly affect those with lower incomes or less savings, who, subject to current regulations, will be required to guarantee at least 10% of the purchase price of the property, in addition to transaction costs. .

The duration of contracts, limited by the age of persons at the time of applying for a loan, is another factor that makes it difficult to access new loans. According to Eupago’s modeling, a loan intermediary, a couple aged 30 with a net monthly income of 1,800 euros, without inheritance or other loans, could receive a loan of 226 thousand euros in January last year, payable at the age of 37. . But a rate hike of 2% would mean that the same couple would only be able to fund themselves by 163,500 euros in September – 28% less. If the increase in Euribor reaches 2.5%, a value that can be reached next month, the amount will drop to 154.2 thousand euros.

The reasons? First, the increase in Euribor rates associated with most new home loans in Portugal, as well as the limits imposed by the Bank of Portugal since 2018 (when Euribor rates were negative) to limit the risk of household over-indebtedness. Banco de Portugal should not change the formula for calculating DSTI with a 3% increase, but says it is monitoring the situation. “As a macroprudential body, it monitors macroeconomic and financial developments and will continue to monitor compliance with the recommendation, as well as promote changes to it, always with the aim of improving its effectiveness,” the regulator told the daily newspaper.

See also  TAP's restructuring plan kicks off in October with the support of CEO O Jornal Económico.

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DHL with ‘great difficulty’ invests $50 million in Lisbon

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DHL with 'great difficulty' invests $50 million in Lisbon

Portugal could be a “much bigger gateway” for DHL’s business than it is today, said Dinheiro Vivo, CEO of DHL Express John Pearson, on the sidelines of the 2022 Trade Growth Atlas launch in Brussels, noting that there are business opportunities in the country’s largest distribution and logistics group in the world. However, the group has been trying “for years” to set up a new logistics terminal in Lisbon, but to no avail.

“We have been trying for many years with the ANA and the airport administration to create a new infrastructure, I think we are close to this. Our planes,” he emphasizes. DHL has grown “very fast” and has a “very healthy business with a very high market share” in Portugal, with good prospects “especially in the consumer segment”, which Pearson said could create “more terminals and jobs”.

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Iran cut off internet access… Elon Musk will give connection

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Irão cortou o acesso à Internet... Elon Musk vai dar conectividade

As we reported hereThere was a massive internet outage in Iran yesterday during a series of mass protests against the government.

After this action, Elon Musk posted a message on the social network Twitter, from which it follows that he is already activating his Starlink satellite network to allow Internet access in this country.

Elon Musk: Outfit [rede] Starlink for Internet access for Iranians

Iranians are facing massive internet shutdowns due to anti-government protests. Loss of connectivity, preventing access to platforms such as Instagram and WhatsApp, makes it difficult to organize demonstrations as well as share information about government crackdowns.

Elon Musk wasted no time and was quick to point out on Twitter that he was "helping [rede] Starlink...", in response to another message also posted on the social network Twitter by US Secretary of State Anthony Blinken, in which he revealed that the White House had given permission for Internet companies to provide their services to Iran.

Iran cut off internet access... Elon Musk will give connection

He recalls that the protests in Iran began on Friday last week after it became known about the death of 22-year-old Masha Amini after being detained by the Vice Police for wearing a veil placed in a way that agents considered wrong.

State television IRIB reported 26 deaths in clashes with police. The Iranian government has severely restricted internet access, and in recent days, mobile networks have been switched off from 9pm to morning.

On Thursday, the US sanctioned the Vice Police for the death of a young woman and seven security sector leaders for cracking down on demonstrations.

It should also be noted thatIranian citizens are banned from accessing Facebook, Telegram, Twitter and YouTube, despite the fact that many bypass these restrictions through a VPN.

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