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.

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Re:We need to stop educating Chinese engineers

[jellomizer]

1. How many of them stay in the US, and use their education and skills to support the United States?
2. Are you implying that the US cannot design competitive or superior products by itself, so we need to actively undercut other nations so we stay on top?
3. What make you think that Chinese cannot get quality education in China or other countries as well?
4. If we cannot be competitive with American Engineers trained in America, why would you assume there is any value to China to send students to learn our engineering, if our stuff is such a failure?

It seems that Modern Nationalism is an odd mix of American Exceptionalism mixed with a feeling on inadequacy of what they can do.

The world had recovered from WWII... America was the only player in town, for about 50 years. And now others are joining in, America was found that it wasn't practicing to improve itself (aged infrastructure and outdated policies and procedures...) Policies to try to stop innovation in other countries is going to be a net loss to the world. US will need to invest into making itself modern.