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The Ant’s Path: China Answers the Chip Blockade with Asia’s Largest Market Debut
['Claudia Aranda']
Pressenza
A single debut, in short, moved the entire board of a global industry: within China, draining capital from its peers; beyond it, sowing the disquiet of a price war to come.
The essential point is another, more uncomfortable for whoever imposed the blockade: the blockade did not stop China.
Monday’s market debut was precisely that day: the moment when the underground labor surfaced and the market, with 9.4 million retail orders, put a price on it.
By cutting off China’s access to high-end foreign memory, Washington guaranteed CXMT a captive domestic market of hundreds of millions of devices.
ASML took thirty years to tame EUV lithography; China seems willing to invest as many replicating it, without the timeframe intimidating it.