China’s bid for Newport Wafer Fab condemned by MP Iain Duncan Smith

Former Work and Pensions Secretary Iain Duncan Smith offers a speech on the ‘Vote Go away’ marketing campaign headquarters on Could 10, 2016 in London, England.

Jack Taylor | Getty Photos

LONDON — A U.Okay. lawmaker believes China is utilizing questionable strategies to make sure it turns into a world chief in semiconductor know-how.

Iain Duncan Smith, a member of parliament and the previous chief of the Conservative Occasion, advised the U.Okay. Parliament on Thursday that China has recognized semiconductor know-how as a key space it desires to dominate globally. The business is presently led by Taiwan, South Korea and the U.S, that are house to chipmaking giants TSMC, Samsung and Intel respectively.  

China is “busy stealing know-how, getting different folks’s mental property rights, and shopping for up firms,” Duncan Smith stated.

Chinese language enterprise capital corporations have been snapping up stakes in European tech corporations for years, with the U.Okay. being a specific space of curiosity.

Liu Pengyu, spokesperson of the Chinese language Embassy in america, denied Duncan Smith’s allegations.

“Some politicians have by no means produced any proof for his or her repeated allegations about China’s ‘theft of mental property,” Pengyu stated in an announcement share with CNBC. “In reality, China has by no means achieved what they accuse us of.”

Pengyu added that China was turning into a pacesetter in mental property, “and can proceed to work with different international locations to advertise world IPR [intellectual property rights] governance, and contribute to the balanced, inclusive and sustainable improvement of world IPRs.”

Earlier this 12 months, China imposed sanctions on numerous British organizations and people, together with Duncan Smith who’s a vocal critic of China.

Essential chipmakers

Nationwide Safety and Funding Invoice

https://www.cnbc.com/2021/07/16/chinas-bid-for-newport-wafer-fab-condemned-by-mp-iain-duncan-smith.html

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