China’s top chipmaker may be in hot water as US lawmakers call for further sanctions after Huawei ‘breakthrough’

L4sBot@lemmy.worldmod to Technology@lemmy.world – 166 points – China's top chipmaker may be in hot water as US lawmakers call for further sanctions after Huawei 'breakthrough' | CNN Business
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China’s top chipmaker may be in hot water as US lawmakers call for further sanctions after Huawei ‘breakthrough’::Shares in SMIC, China’s largest contract chipmaker, plunged on Thursday, after two US congressmen called on the White House to further restrict export sales to the company.

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Chinese state media have touted the development as a sign the country had successfully “broken US sanctions” and “achieved technological independence” in advanced chipmaking

They touted about it just enough to be heard but not nearly enough for how big of a deal that would be if it actually were true. I mean most people only read about it now that the US as announced further sanctions so I have my doubt it was anything but a propaganda campaign.

Meme makers on the Chinese internet have even crowned US Commerce Secretary Gina Raimondo the unofficial brand ambassador for the Mate 60 series.

The memes poke fun at the idea that US sanctions, which are implemented and enforced by the US Commerce department

That isn‘t actually what the memes are really about. It was probably a backfire to photos taken of high ranking CCP officials and celebrities using iPhones because those are still huge status symbols in China. Many of them endorsed Chinese brands but privately used iPhones which is a pretty big blow to their propaganda machine. They have recently made the rounds on social media. So of course CCP shills photoshopped pictures of the US commerce secretary using Huawei who was visiting China at the moment. China also then announced their politicians are no longer allowed to carry apple products. Paired with the likelyhood that their domestic chip turns out to be a hoax, China is in quite a mess. And I didn‘t even talk about the floods in Shenzhen and Hong Kong that the CCP definitely does not want the world to see right now. It‘s a tragedy and definitely won‘t help their technology branches, many of which call these cities their homes.