business

Japan semiconductor company Renesas to buy U.S. firm IDT for $6.7 bil

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By Kazuhiro Nogi

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© 2018 AFP

©2018 GPlusMedia Inc.

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"(Renasas) suffered from fierce competition from low-cost rivals and in 2013 was bailed out by a government-backed fund.

Too bad the US doesn't have a government that's willing to step in and actively protect its strategic industrial assets, like Japan has. Rather, US semiconductor makers and other strategic industries are up for grabs for the Japanese and Chinese.

That's how "globalization" works: protected markets are free to take over unprotected ones, while the billionaires pocket the profits.

0 ( +2 / -2 )

JeffLee

Well said and so true.

2 ( +3 / -1 )

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