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World News April 12, 2024

Japan leads U.S., Germany in chip subsidies as share of GDP: Nikkei

Japan is prioritizing semiconductor investment over the U.S. and other Western nations, allocating 3.9 trillion yen (about $25.5 billion) over three years, amounting to 0.71% of its GDP. In contrast, the U.S. is investing more in value but less proportionally to its GDP. Japan’s funding sources include GX bonds for green transformation, but only a portion of the semiconductor spending is backed by actual funding. Experts call for long-term planning and funding sources to increase predictability for businesses. Prime Minister Kishida sees collaboration opportunities with the U.S. in semiconductor development, citing ventures like Rapidus. Meanwhile, China criticizes U.S. subsidies to its semiconductor sector as discriminatory and violating market laws and international trade rules. China opposes the politicization and weaponization of economic and technological issues by the U.S., vowing to safeguard its enterprises’ rights and interests.

Source – CGTN

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