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Biden's chip 'arms race' with China will add to global uncertainty

$50 billion plan will diversify production but complicate supply chains

| China
Joe Biden holds up a silicon wafer during a virtual meeting with CEOs to discuss supply chain issues at the White House on Apr. 12: redefining the word "infrastructure" is critical.   © AP

Nina Xiang is the founder of China Money Network, a media platform tracking China's venture and tech sectors. She is author of "Red AI: Victories and Warnings from China's Rise in Artificial Intelligence."

U.S. President Joe Biden may not have realized it, but when he defined the tiny computer chip he was holding two months ago as the "21st-century horseshoe nail," he was echoing the logic of China's latest policy buzz phrase, "new infrastructure."

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