- India's capital bans fireworks to curb air pollution
- Stocks diverge, oil retreats as China disappoints markets
- FIFA to open 'global dialogue' on transfer system after Diarra ruling
- Trio wins economics Nobel for work on wealth inequality
- Starmer vows to cut red tape as he urges foreign investors to 'back' UK
- Ex-Stasi officer jailed over 1974 Berlin border killing
- 'Not viable': Barcelona turns against surging tourism
- Hezbollah says targeted Israeli naval base after deadly drone strike
- Rice praises 'unbelievable' England interim boss Carsley despite uncertainty
- Nepali teenager hailed as hero after climbing world's 8,000m peaks
- England captain Stokes back from injury for second Pakistan Test
- Shanghai stocks gain after stimulus briefing as markets rally
- Shanghai stocks gain after stimulus briefing as Asian markets rally
- South Korea military says 'fully ready' as drone flights anger North
- Pakistan 'vigilantes' behind rise in online blasphemy cases
- Nearly 90, but opera legend Kabaivanska is still calling tune
- Smith experiment as Test opener over, Green out of India series
- With inflation down, ECB eyes faster tempo of rate cuts
- Is life possible on a Jupiter moon? NASA goes to investigate
- Dodgers crush Mets 9-0 in MLB playoff series opener
- South Korea military says 'fully ready' as drone tensions soar
- Cummins back, Marsh and Head out of Pakistan ODI series
- Shanghai stocks swing after stimulus briefing as most of Asia rises
- New Zealand's Latham promises 'no fear' as he takes charge for India Tests
- Kyrgios vows to 'shut up' doubters with December comeback
- Public hearings start into death of Brit by Russian nerve agent
- Ex-Stasi officer faces verdict over 1974 Berlin border killing
- Role of government, poverty research tipped for economics Nobel
- 'Stolen satire' feeds US election misinformation
- Rookie McCarty captures first PGA Tour title in Black Desert Championship
- Australia all-rounder Green ruled out of India Test series
- Seeing double in Nigeria's 'twins capital of the world'
- UK FM to attend EU foreign affairs talks for first time in 2 years
- Carter, Billups among 13 new Basketball Hall of Fame inductees
- Ravens rip Commanders as Lions lose NFL sacks leader in win
- Hezbollah drone strike kills four, wounds dozens at Israeli base
- China says launches military drills around Taiwan
- Stewart leads Liberty past Lynx to level WNBA Finals
- England return to winning ways in Nations League, Austria thrash Norway
- UN chief says attacks on UNIFIL 'may constitute a war crime'
- Ravens outlast Commanders while Bucs batter Saints in NFL
- Dozens hurt in Israel as Hezbollah claims drone strike
- England deserve 'world class' coach: Carsley
- Burkina Faso win to become first qualifiers for 2025 AFCON
- AC Milan's Pulisic among five out for USA match in Mexico
- France's Amandine Henry retires from international football
- Centre-left set to win pro-Ukraine Lithuania's vote
- India's World Cup hopes in Pakistan hands after Australia defeat
- Zelensky says NKorea sending troops to Russian army
- England beat Finland to get back on track
US Commerce chief warns against China 'threat'
US Commerce Secretary Gina Raimondo on Saturday urged lawmakers, Silicon Valley and US allies to stop China from getting semiconductors and cutting-edge technologies key to national security.
Speaking at an annual national defense forum in Simi Valley, California, Raimondo called Beijing "the biggest threat we've ever had" and stressed "China is not our friend."
The world's top two economies are locked in a fierce commercial and geopolitical rivalry, in which her department plays a leading role.
In October, Raimondo unveiled a series of restrictions on the export of advanced chips to China, including those used in the development of artificial intelligence (AI), to prevent their use by Beijing for its military.
"I know there are CEOs of chip companies in this audience who were a little cranky with me when I did that, because you're losing revenue. Such is life, protecting our national security matters more than short term revenue."
"Newsflash: democracy is good for your businesses. Rule of law here and around the world is good for your businesses," she said.
Raimondo noted that Nvidia, maker of the most sophisticated chips needed to develop the latest generation of AI, had developed a product that performs just below the limit set by her department for export to China.
"That's what industry does," she acknowledged, but added, "That's not productive."
"Every day China wakes up trying to figure out how to do an end run around our export controls... which means every minute of every day, we have to wake up tightening those controls and being more serious about enforcement with our allies," she said.
Raimondo stressed that her department needs better funding to effectively carry out its mission.
"I have a $200 million budget. It's like the cost of a few fighter jets. Come on," she said. "Let's go fund this operation like it needs to be funded so we can do it, we need to do to protect America."
"America leads the world in artificial intelligence... America leads the world in advanced semiconductor design," Raimondo said. "That's because of our private sector.
"No way are we going to let (China) catch up."
M.Fischer--AMWN