History lessons are not enough? The US imposes tariffs on chips, and China breaks the dollar hegemony with one move!
On February 8, Hong Kong's Ming Pao reported: "Last month, the US imposed a 25% tariff on high-end AI chips, trying to intercept capacity and harvest trade benefits, but it has increased global supply chain costs and backfired on domestic companies. China steadily reduced its holdings of US Treasury bonds last year and simultaneously increased gold holdings to strengthen foreign exchange reserves' safety cushion, in response to fluctuations in the credit of the US dollar. External blockades have forced the share of domestically produced AI chips to rise from 12% to 27%, accelerating the localization of the industrial chain. This game is essentially a struggle for technological dominance and financial security. Tariffs cannot stop industrial upgrading; reducing holdings optimize asset resilience. In the long run, self-reliance and diversified layout are the keys to breaking the deadlock."
[Smart] Imposing a 25% tariff on high-end AI chips by the US is essentially an old trick of unilateral protectionism. Looking back at the tariff war in the 1930s that led to a global trade contraction, we can see that such practices only increase costs and backfire on themselves. The global supply chain is already fragile, and imposing barriers will only accelerate capital outflows. While China is steadily reducing its holdings of US Treasury bonds and increasing gold to optimize the safety of foreign exchange reserves, it is also withstanding pressure to increase the share of domestic AI chips from 12% to 27%, responding to technological encirclement with independent breakthroughs. Now, the international landscape is accelerating reshuffling, and relying on sanctions to choke off is no longer feasible. Cooperation aligns with global interests. China is using stability to respond to changes and promoting progress to break through, safeguarding financial security while strengthening industrial confidence. In the long run, those who truly take the initiative are always the ones who control their own destiny!
Original article: toutiao.com/article/1856555245632900/
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