Today's world news
07-11-2022
Chinese exports fall for first time since 2020
For the first time since the early stages of the Covid-19 outbreak, China's exports declined in October, signalling rising pressure on an economy still constrained by stringent antiviral measures.
According to official data released on Monday, exports in dollar terms decreased 0.3% year over year in November, falling short of economists' expectations of 4.5% growth after a 5.7% increase in September. The number last decreased on May 2020.
Chinese chip designers slow down processors to dodge US sanctions
Alibaba and start-up Biren Technology are tweaking their most advanced chip designs to reduce processing speeds and avoid US-imposed sanctions aimed at suppressing Chinese computing power.
Chinese chip designers have spent millions of dollars and years designing advanced silicon, which was meant to be produced by Taiwan Semiconductor Manufacturing Co. (TSMC), since China lacks the ability to make its own cutting-edge chips.
However, new trade restrictions issued by the U.S. Commerce Department on Oct. 7 that require American chipmakers or equipment manufacturers to apply for a license to export advanced chips or chipmaking equipment to China have hampered these plans.
China’s semiconductor design sector is quickly catching up to US rivals, helped by huge funding from the government and venture capitalists. This move by the US is an attempt to slowdown China’s effort to catch up with the super power
A few questions that has been in my mind:
Who is going to win the US midterm elections?
What is Musk’s first week at Twitter telling us?
Is the global power shifting from West to East?
Are we heading to a global recession?
If you have thoughts, let me know in mail@ashfaque.co