Allies dodging US' tech war draft: China Daily editorial
China DailyThe Joe Biden administration is mulling harsh restrictive measures on Tokyo Electron, ASML and other chipmaking and chip equipment manufacturing companies of US allies if they continue to trade with China. On the other hand, with Biden facing tremendous difficulties in his bid for reelection as US president in November, more and more US allies feel they needn't serve in the ranks for the Biden administration's "chip war" against China anymore. Most of those conscripted by his administration know that Biden's "chip war" against China, which violates market law and leaves no party unscathed, was nothing but a personal vanity project from day one. The tumbling share prices of relevant Japanese and Dutch companies on Wednesday following the Biden administration's latest threats — Tokyo Electron's share price dropped by 8.3 percent at one point — means that even before the US' restrictive measures against them materialize, they have started paying for being dragooned into the US' tech offensive against China.