THE HAGUE, the Netherlands: Frenchman Christophe Fouquet takes the reins of Dutch chip giant ASML on Wednesday with a daunting to-do list, top of which will be steering business with China as semiconductors become a geopolitical battleground.

ASML's strategic importance in manufacturing machines to make ultra-thin microchips that power much of the world's advanced technology has given it a role far beyond the commercial.

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