Almost a year after the Netherlands introduced export controls on advanced semiconductor equipment — urged on by Washington — the country’s most important chip company is doing more business in China than ever.
ASML’s latest results, released last month, show China has been its single biggest customer for the last four quarters, with almost half of the company’s 11.5 billion euros ($12.5 billion) sales shipped there so far in 2024.
Eindhoven-based ASML is the world’s only
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Walmart should be in trouble in China, where its competitors are in retreat and its sourcing operations have been criticised by both Beijing and Washington. But the American retailer seems to have found a way forward in a difficult sector and remains one of the biggest benefactors of China-U.S. trade.
The Commerce Department wants to expand export controls to majority-owned subsidiaries of Chinese companies. That could trigger cascading effects — and challenges.
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