Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (45544)	2/3/2004 9:48:34 AM
From: BubbaFred	Read Replies (1) of 74559

China set to flood the world with chips By Macabe Keliher Feb 3, 2004 TAIPEI - Last September Morris Chang alarmed the semiconductor industry when he said there would be an industrywide recession in 2005 and that the Chinese chip makers would cause it. "I stand by that statement. China's capacity in 2005 will have a big impact," the chairman of the world's largest made-to-order integrated-circuit and computer-chip manufacturer, Taiwan Semiconductor Manufacturing Co (TSMC), has told Asia Times Online. That's something of an understatement. In pursuit of a policy that will make China nearly self-reliant in semiconductor manufacturing, and enable the country to source its own chips domestically for everything from tape recorders to computers, Beijing is funding and bankrolling what is being called reckless expansion in semiconductor fabrication plants, or "fabs". Through low-interest loans, tax exemptions and even direct investment, the Beijing government has set China on pace to provide the world with 20 percent or more of its capacity next year in the made-to-order chip industry, or foundry. Message 19762845 atimes.com

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