On closer examination, however, China's chip boom is a response not so much to political will as to market forces.

ECONOMIST: China��s chip making

China is likely to outdo its neighbours in chip making.

ECONOMIST: Semiconductor manufacturers

This has chip makers excited, especially as parts of China look good in other respects as well.

ECONOMIST: China��s chip making

"Sentiment is severely battered by a string of negative news, especially the earnings warnings from some blue chip companies like ZTE, " said Zhang Gang, analyst at Central China Securities.

WSJ: Australian Miners Rally, China Slips

With the emergence of China and India as world economic powers, gas exports will likely provide the US with a major bargaining chip in trade talks.

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