U.S. Congress has passed the Chips and Science Act, a legislation that would provide 52 billion dollars in subsidies to boost U.S. semiconductor production. Advocates say the legislation aims to increase U.S. competitiveness in the semiconductor industry while others argue it may distort the global semiconductor supply chain. What's in this bill and what implications is it likely to have in the global industry? Host Liu Kun is joined by Wang Dan, Chief Economist at Hang Seng Bank China, Andy Mok, Senior Research Fellow at the Center for China and Globalization, and Professor John Gong, Vice President of Research and Strategy at the University of International Business and Economics Israel on this episode of Chat Lounge.