Chip Wars, TikTok Fears and a Wine Glut: Saturday Asia Briefing
Everything for the weekend.
What’s wrong with China’s economy?
Photographer: Andrea Verdelli/BloombergThis article is for subscribers only.
The US-China chip battle heated up this week, what-used-to-be Twitter plans to launch what-wants-to-be YouTube, according to Fortune, and the world has too much wine. Pour yourself a glass of chardonnay and read on.
In the high-tech war, China is raising more than $27 billion for its largest semiconductor fund to counter US efforts to stunt its tech industry. On the other side of the coin, Taiwan’s TSMC is ready to scoop up $5 billion from the US government to support chipmaking in Arizona.