As China rushes to chip independence, a major Chinese semiconductor company, Tsinghua Unigroup, is facing bankruptcy. Just like SMIC, it’s financially backed by the Chinese government. A few years ago, Unigroup had attempted to buy American chip company Micron and Taiwan’s TSMC. The champion of Chinese football league, Jiangsu FC, announced that it ceased operations. It had brought legendary Italian coach Fabio Capello and Brazilian player Alex Teixeira on board and came close to capturing superstar Gareth Bale. What do the Chinese chipmaker and football team have in common? The Chinese money problem.
0:00 Intro
0:42 Why is UniGroup broke?
4:46 Xi Jinping’s FIFA football dream
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