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China's Chip Imports Fell By a Record 15% Due To US Sanctions, Globally Weaker Demand
According to Bloomberg, China's chip import value dropped significantly by 15.4% in 2023, from $413 billion to $349 billion. "Chip sales were down across the board in 2023 thanks to a weakening global economy, but China's chip imports indicate that its economy might be in trouble," reports Tom's Har...
That a drop happened at all isn't surprising; even TSMC, usually considered to be one of the most advanced fabbing corporation in the world, saw its sales decline by 4.5%. A deflationary economy encourages consumers not to spend, since money is increasing in value, meaning buyers can purchase more if they wait. However, shipment volume only decreased by 10.8% compared to the 15.4% decline in value, meaning the chips that China didn't buy in 2023 were particularly valuable.
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