What goes up, and up and up

摘要

TIMES SEEM tough for China's chipmak-ing champion, the Semiconductor Manufacturing International Corporation (SMIC). Over the past year America has attacked its supply chains, cutting it off from essential high-tech tools. It has slapped export controls on smic's customers and enacted new rules which threaten to designate the firm as subservient to the People's Liberation Army. The company's sales slumped by 7% in 2019 to $3.1bn-not the kind of performance expected of a Chinese high-tech titan.