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China Plans $47 Billion Fund To Boost Its Semiconductor Industry (wsj.com)
An anonymous reader quotes a report from The Wall Street Journal: In a move that could further heighten tensions with the U.S., China is poised to announce a new fund of about $47.4 billion (Warning: source may be paywalled; alternative source) to spur development of its semiconductor industry as it seeks to close the technology gap with the U.S. and other rivals, according to people familiar with the matter. The new war chest by the government-backed China Integrated Circuit Industry Investment Fund Co. follows a similar fund launched in 2014 that raised $21.8 billion, largely funded by central and local government-backed enterprises and industry players. Among other efforts, the fund would be used to improve China's ability to design and manufacture advanced microprocessors and graphic-processing units, one of the people said. Specific details including the amount could change, another person said.
They come here, learn all the skillz, and then run home and undercut us. It's disgraceful and should be considered a national crime against America. It's too bad we do this to ourselves, and allow this to occur. Hoisted by our own petards.
They will fund the US semi conductor industry with 40 billion dollars and fund 7 billion dollars in the 701st Cyber Warrior Division, The Red Weasels, to steal the secrets from those companies.
sed -e 's/Chuck Norris/Rajnikant/g' joke > fact
The US invests in 19th century priorities- weapons. Vast quantities of weapons which they not only use to excess, but they sell to others freely. Weapons have not won the US many friends around the world or even within its own population. This massive misspending of resources will continue to isolate the US and eventually destroy its economy.
China's investment in technology is another sign of progressive thinking. The world will become more dependent on digital technology and supremacy in that area will bring more power than primitive weapons.
Everyone has investment choices- individuals, companies, non-profits and governments. Poor choices lead to undesirable results.
...omphaloskepsis often...
Actually, the last election suggested that more Americans are fed up with income inequality and poor or no access to healthcare. Teachers in deeply red states are moving to the left politically because they see what the conservative politician is doing to their income. They're finally seeing that the right is the wolf in sheep's clothing. Most Americans confuse socialism with communism because they've been indoctrinated by the right. In reality, more socialist policies are good for the middle and lower classes. They're not so good for the wealthy. If you want to fix America, start really manufacturing here and stop the tide towards a service economy. Third world countries are largely service economies.
The problem here is that the rhetoric is required for politicians to get elected. It would seem logical for politicians to move towards the center because they try to cater to voters on the other side of their fence, knowing that they will get the votes from their side anyway, but that doesn't take primaries into account. Primaries mean that only the most radical and most insane ones actually have a chance to run for an office because in primaries, you will primarily see the fringe voters go to support "their" candidate.
And then you're sitting in an election with two complete lunatics to choose from, so you pick the one that is at least not as completely insane as the other one.
We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.