The United States lately courted Japan, Taiwan and South Korea to sort the “Chip 4 Alliance”, but the alliance is however in a preliminary meeting and South Korea has been continuously “stabbed in the back again” by its older brother. the United States.
Just after the “Inflation Reduction Act” strike South Korea’s electric motor vehicle industry, an short article printed by the Wall Street Journal on the 6th uncovered that US Secretary of Commerce Raimondo stole a 5-year financial commitment venture. billions of bucks in South Korea with a phone get in touch with in June this year.
The Wall Road Journal experiences it. Screenshot of the formal web-site of the Wall Street Journal.
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The post titled “US Secretary of Commerce Advocates More powerful Industrial Policy to Handle China and Russia” states that in February this year, immediately after the world’s third-most significant silicon wafer maker and Taiwanese chip organization Common Wafers have presented up on his options to build a manufacturing unit in Germany, he begins searching for other suited spots to devote $ 5 billion to create a factory.
Thinking about that the price tag of constructing a manufacturing facility in South Korea is only a third of that in the United States, World Wafer in the beginning prioritized South Korea, but in June Raimondo and International Wafer CEO Xu Xiulan spoke to telephone for about an hour this calendar year. When Xu Xiulan mentioned that the cost of setting up a manufacturing facility in the United States is quite significant, Raimondo mentioned on the place: “We will make the math work.” Hence, two months later, Common Wafer introduced on June 27 in A $ 5 billion strategies to build a new manufacturing unit in Texas are anticipated to generate 1,500 careers.
Raimondo stressed that “to contend with China, the most critical detail we need to have to do is draw in investment to the United States”.
United States Secretary of Commerce Raymond. AP graphic.
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The report on the “Hu minimize” promptly sparked dissatisfaction in South Korea. Chosun Ilbo believes this totally demonstrates the diploma of intense steps the US has taken to secure potential financial hegemony and build new employment. It also has quoted countrywide analysts who claim that the United States is on the “battlefield” of large-tech, “will not make any concessions” to allies like South Korea, and has come to be quite realistic and relaxed, to fear about the pros and compared to.
The report also pointed out that the Biden administration has publicly put “Sino-American competitors” as the entrance line of “industrial warfare,” but the United States is continue to looking at its ally South Korea as a competitor and has subsequently adopted. measures to “exclude South Korea”.
It is really worth noting that South Korea has been regularly “backstabbed” by the United States not too long ago. On August 16, area time, the Biden administration signed the “Inflation Reduction Act” well worth a total of $ 750 billion, which supplies a $ 4,000 tax credit rating to domestic buyers who acquire utilised electric powered cars and a credit history. $ 4,000 Tax Credit to Those Who Obtain New Electric powered Cars Buyers are presented a $ 7,500 tax credit score.
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While the US media thinks the bill may possibly proficiently exclude China from the supply chain of the US electrical car industry, the South Korean side thinks the practice will deal a critical blow to linked industries in South Korea as properly.
According to a Sept. 2 Bloomberg report, as key Korean brands these types of as Hyundai have no electrical auto factories in the US, their major versions cannot love US govt vehicle purchase subsidies for a significant period of time. . The Biden administration’s new polices can be claimed to have held back South Korean automakers who are actively exploring the US industry.
The report cited a senior Seoul official who reported South Korea considered the new regulations as “treason” and “may perhaps sense like a stabbed in the back,” which could complicate economic and safety cooperation among Korea’s near allies. South and United States .change.
Due to the fact South Korea is a key participant in initiatives this sort of as the “Indo-Pacific Financial Framework” and the “Chip Quartet”, South Korea and the United States are at odds on the concern, which could jeopardize the “constructing of a Biden’s tighter network of companions to counter China, “Bloomberg claimed. developing influence “.
In this regard, South Korea’s “JoongAng Every day” made several responses, reminding the South Korean governing administration and people today not to have any illusions about the United States. The responses claim that the South Korean authorities and business surface to be hoping the US can just take care of “financial protection allies”, but that is not likely. On top of that, America’s extensive-expression intention is to rebuild the foundations of its entire creation of raw components, components, production, and so forth. at home. Biden’s slogan “rebuild for a improved future” is fundamentally the similar as Trump’s “Make The united states Good All over again” slogan for Rust Belt workers. Biden’s signing of the “Inflation Reduction Act” when again reminded all walks of existence in South Korea that the South Korea-US alliance is worthless in the confront of interests.
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