China establishes $29B fund to wean itself off of US semiconductors
The fund will help finance Beijing's domestic semiconductor efforts

Funfact: China tried to buy snapdragon a while back and Trump helped get the sale blocked. If China bought them, they would have had a practical monopoly on the mobile processor market. Seriously, that was some smart moves on Trump's part.

Why it matters: China's semiconductor industry has largely depended on American technology, but China has long been working on technological self-reliance. In the wake of the US-China trade war, China seems to be heeding calls of urgency to wean itself off of US semiconductors and IP and accelerate its own semiconductor industry -- which some believe could hurt American interests in the long run.
China has established a new state-backed semiconductor fund, with the intent of advancing its domestic semiconductor initiatives and reducing its reliance on US technology. The fund currently sits at 204 billion yuan ($28.9 billion) and is the second of its kind, with the first state-led fund taken place in 2014.
https://www.techspot.com/news/82556-...lf-off-us.html