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Sanctions are the driver of economic growth


The story of the US confrontation against the flagship of Chinese high-tech production, Huawei, began in December 2018 after the arrest of Huawei's CFO, followed by a false announcement of industrial espionage and technology theft. In May 2019, the United States blacklisted Huawei with a ban on using American technology and buying equipment and components.

Almost all international technology corporations have joined the US. By mid-2020, all this led to the fact that the United States contributed to the refusal of TSMC to produce Chinese processors on an advanced technical process.

As a result, a global ban on android and any American software, a ban on intermediate products and components, a ban on the production of components for Huawei in US-controlled factories, a ban on any technologies and licenses that, both in US jurisdiction and in countries in the zone US influence.

The reason for hitting Huawei was that the Chinese flagship has become a leader in technology and innovation, overtaking Apple. The US did not want China to overtake Apple and launch a cynical sanctions strike. Huawei accelerated revenue from $30 billion to $120 billion in 8 years to 2019. Back then, Huawei was the only smartphone maker in the world to grow its sales outside of China, becoming the world's flagship technology in telecommunications equipment, consumer electronics and semiconductors.

The nuance of US sanctions is that they are extraterritorial, that is, US sanctions almost automatically mean sanctions of key US partners. Therefore, China could not hope for partners - they do not exist.

By banning the production of processors according to advanced technical processes, the Chinese in 2020 began to forcefully develop their own semiconductor industry. Result?

Nineteen of the twenty fastest growing companies in the world (according to Bloomberg) , engaged in the production of chips for the past four quarters, are from China!

Not only chipmakers are growing, but also companies that produce equipment for making chips, because. the world monopoly is the Dutch ASML Holding NV, and the absolute leader in the production of chips is the Taiwanese Taiwan Semiconductor Manufacturing.

The global revenue of chipmakers is about 630-670 billion dollars (Bloomberg underestimates to 550 billion), the leaders are Taiwan, the USA and Korea. Japan has long since faded from the scene, but China is growing fast.

In 2021, China is already selling microchips and chips of its own production for $ 150 billion, with international orders growing by 60% y/y, revenue in 2022 may increase by 50%, and the leader is Chinese SMIC, which is growing by 70% y/y , fueled by a global chip shortage and the Chinese Communist Party's bet on its own technologies and closed-loop production from start to finish.

From an outsider, China has become the world's flagship in a matter of years, and this progress cannot be stopped. In 4 years, China will achieve parity with TSMC in technology, and in three years it will become the absolute leader in the semiconductor segment in terms of total revenue. Incredible!

How to become everything from nothing. Here is the story of Chinese success and expansion was triggered by sanctions, when China became convinced that only through technological sovereignty can survival be achieved in this toxic world.