Quote:China is pushing ahead with the development of its own chip industry as major firms like Huawei face the threat of losing access to American technology. Experts say the world’s second-largest economy could still be at least a decade off from catching up with U.S. technology. Still, if China successfully develops its own semiconductor industry, that could ultimately hurt American companies that have reaped big profits in the country.China ramps up its own semiconductor industry amid the trade war
Quote:Donald Trump’s trade wars with China, Mexico and Europe have sent global investment tumbling, according to a World Bank report that forecasts worldwide growth this year will slip back to levels not seen since 2016. The Washington-based lender to developing world countries said in its half-yearly global health check that spiralling political uncertainty was to blame for a slowdown in trade and a collapse in investment spending that will push down GDP growth to 2.6% this year “before inching up to 2.7% in 2020”. The decision by the Trump administration to impose higher tariffs on Chinese imports and prolonged Brexit uncertainty were among a string of events to increase the World Bank’s policy uncertainty index to a record high.Trump's trade wars sent global investment tumbling – World Bank | Business | The Guardian