Global Chip Battle Heats Up as Governments Pour $81 Billion in Subsidies for Semiconductor Production from miami heat logo Watch Video

⏲ Duration: 0:46
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✓ Published: 14-May-2024

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Governments worldwide have allocated $81 billion in subsidies to bolster semiconductor production, aiming to compete with China for technological supremacy. Concerns over China's advancements in electronics have been heightened during the pandemic due to chip shortages, emphasizing the economic importance of these devices. This has sparked competition among countries and led to significant investments in the semiconductor industry.  The US has imposed export controls on China to prevent them from accessing advanced chip technology, leading to tension between the two countries. The US is also working to revive its own tech manufacturing and aims to produce 20% of the world's most advanced logic semiconductors by 2030.