U.S. should not follow China's subsidies playbook, experts say

Programs like CHIPS Act could lead to oversupply, more bifurcation: Aspen tech forum

U.S. President Joe Biden with TSMC Chairman Mark Liu, second from left, at a Taiwan Semiconductor Manufacturing Co. fabrication plant under construction in Phoenix, Arizona. © Reuters

YIFAN YU, Nikkei staff writer

August 25, 2023 05:14 JST

ASPEN, U.S.-- August marks the anniversary of the signing of the $280 billion CHIPS and Science Act, which includes generous chip industry subsidies that have set off a wave of similar incentive programs by other governments hoping to nurture their tech industries.