Biden Strengthens Asian Alliances to Counter China's Influence
• Biden warns China on aggression in South China Sea, hosts summits with Japan and Philippines to counter China • Offering $6.6 billion investment to Taiwan to build semiconductor microchips • Using CHIPS Act to revitalize US semiconductor manufacturing, reduce reliance on Asia • TSMC announcing 3rd manufacturing hub in Arizona, increased investment to $65 billion • Treasury Secretary Yellen visits China to discuss solar, EV, and battery overproduction concerns