China eyes next-generation chip technology to take on global rivals

In just two decades, China sent people into space, built its own aircraft carrier and developed a stealth fighter jet. Now the world's youngest superpower is setting out to prove its capabilities once more -- this time in semiconductors. At stake is nothing less than the future of the world's No. 2 economy. Beijing's blueprint for chip supremacy is enshrined in a five-year economic vision, set to be unveiled during a summit of top leaders in the capital this week. It's a multi-layered strategy both pragmatic and ambitious in scope, embracing aspirations to replace pivotal U.S. suppliers -- and fend off Washington -- while molding homegrown champions in emergent technologies.