Lobbying efforts by Micron Technology Inc. and the Idaho congressional
delegation were credited Friday with helping prevent the U.S.
Export-Import Bank from subsidizing China’s growing memory chip
industry.
A
Micron spokesman said a Chinese company’s bid for an Export-Import Bank
guarantee of a $769 million loan to buy chip-making equipment would
have contributed to a glut in the memory chip market and led to a loss
of American jobs.
“We don’t think the U.S. government should be
using U.S. taxpayer money to finance the movement of semiconductor jobs
to China,” spokesman Dave Parker said.