U.S. sanctions backfire: tech giants suffer massive losses

In October 2022, the Biden administration introduced a comprehensive set of rules aimed at crippling China's chip industry. However, this strategy failed to deliver the expected benefits for the U.S. Throughout 2023, American chip giants, including Intel, AMD, Nvidia, and Micron, experienced significant revenue declines.

By July 2023, when the Biden administration considered intensifying restrictions on China, these tech powerhouses raised strong objections. They cautioned that such measures would only exacerbate the harm to U.S. economic interests.

Co-presented by GDToday and the School of Journalism and Communication, Jinan University

Poster: Wan Shijie (Intern)

Editor: Olivia Yan, Steven Yuen, Rofel Ding