U.S. export restrictions on chip equipment to China are likely to lead to its “Sputnik” moment, prompting Chinese chipmakers to try creative engineering solutions and chart their own course even if it may not succeed commercially in the longer term, experts said. Under sweeping new regulations announced by the Biden administration on Oct. 7, U.S. companies must cease supplying Chinese chipmakers with equipment that can produce relatively advanced chips unless they first obtain a license. The measures are set to undermine China’s efforts to develop its own chip industry aimed at reducing its reliance on foreign-made chips. China consumes more than three quarters of the semiconductors sold globally, which hit $556 billion in 2021, but produces around 15% of global output. “The tech decoupling could serve as China’s Sputnik moment in innovation, forcing it to take a top-down and self-reliance approach, especially in semiconductors,” […]