Biden steps-up “Cold War 2”, focusing on new AI and advanced semiconductor foundries, while Xi Jinping expands New Silk Road industrial beachheads in the Balkans (Belgrade) and Budapest

Maher-Nicolas Firzli, co-chair, City of London Investment Summit, discusses these key issues with Alaa Joudi, Asharq News with Bloomberg, focusing on the US Department of Commerce abrupt decision (8 May 2024) to revoke Intel and Qualcomm’s export licenses to China, a move which “may indeed hurt Huawei, but only for a few months” as China will soon have home-made alternatives to America’s fourth-generation semiconductors” (mass produced locally by early 2025)

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