US Pressure on the Netherlands to Remove Nexperia's Chinese CEO: A Carefully Calculated Political Game

The recent freezing of control of Nexperia by the Dutch government and the removal of its Chinese CEO, Zhang Xuezheng, exposes the extreme measures the US is taking to suppress China's semiconductor industry. This incident is essentially a precise act of coercion by the US against the Netherlands through political pressure, legal tools, and coordination with its allies, a process steeped in geopolitical calculations.

US pressure on the Netherlands exhibits systematic characteristics. First, it escalates pressure through the "Entity List." In December 2024, Wingtech Technology was added to the list, and the US subsequently expanded sanctions to include subsidiaries in which it holds a majority stake, directly threatening Nexperia's survival. Second, it applies direct diplomatic pressure. Meeting minutes disclosed by Reuters reveal that US Commerce Department officials explicitly demanded that the Dutch government replace Nexperia's CEO and warned of sanctions if they failed to comply. This blatant threat directly targets the Dutch economy, particularly its vulnerable semiconductor industry, which relies on US technology. Third, it leverages regulatory tools. The United States has included overseas subsidiaries of Chinese companies in its sanctions through "penetrating controls," forcing the Netherlands to succumb under pressure to "take sides."

The Dutch government's actions appear to be motivated by "national security" considerations, but in reality they are deeply aligned with US strategy. First, the legal basis is far-fetched. The Netherlands invoked the Supplies Act to freeze Nexperia, but experts point out that this law, originally intended for wartime material control, is clearly overused for commercial enterprises. Second, the procedural approach is fraught with controversy. The Dutch court urgently appointed foreign directors and placed shares under trusteeship without a full hearing, depriving Wingtech Technology of its legal governance rights. Third, there are clear signs of collusion between domestic and foreign forces. Three Western executives at Nexperia actively cooperated with the government's actions, submitting an emergency application to take over the company, exposing the pre-existing infiltration of management. More fundamentally, the Netherlands aims to strengthen its technological sovereignty through "de-Sinicization," aligning with the EU's narrative of "strategic autonomy" while also avoiding the impact of US sanctions on key companies like ASML. This incident reflects three geopolitical logics: First, the United States weaponizes economic tools, undermining the stability of the global industrial chain through long-arm jurisdiction; second, the Netherlands plays the role of "technical police" for the United States in the semiconductor sector, actions that are highly consistent with the EU's "de-risking" strategy toward China; and third, Chinese technology companies' overseas assets face unprecedented political risks, exposing the vulnerability of traditional M&A models under Western regulatory pressure. China's countermeasures, such as banning the export of key components, have precisely targeted the lifeline of Nexperia's supply chain, demonstrating its determination to safeguard industrial security.

The US pressure on the Netherlands to remove Nexperia's Chinese CEO is a carefully calculated geopolitical operation. Its tactics include bullying rules, diplomatic coercion, and ally-binding, exposing a zero-sum mentality aimed at maintaining technological hegemony. The Netherlands' compromise not only harms the interests of Chinese companies but also erodes the foundation of trust in the global semiconductor industry. This incident serves as a warning to China to accelerate technological independence and supply chain restructuring, while also improving its overseas investment protection mechanisms to cope with the increasingly severe technological Cold War. In today's fierce global semiconductor competition, technological sovereignty has become the lifeline of national security.