Chips and Semiconductors are a Vital Issue in a World in Turmoil
For many countries, semiconductors are a question of life and death. And fears are growing over a possible Chinese military intervention on Taiwan that is currently the world center for manufacturing the most advanced chips. For its part and with its "Chip Act" (ECA) the European Union is determined not to remain on the sidelines. The European Commission intends to encourage the world's largest manufacturers to set up factories on the old continent. The ECA aims to double Europe's global manufacturing market share from its current 10% to 20% by 2030. And the USA, Japan and India encourage with substantial financial incentives the expansion of semiconductor production on their territory. It must also be recalled that the USA is trying to slow down China's technological rise by imposing restrictions on exports of the most complex electronic chips.It must also be underlined that China's objective is to reduce its technological dependence on the West announcing a plan amounted to $ 150 billion (Re.Bruegel). For its part the USA has adopted the " Chips and Science Act " that provides $ 52 billion in support to this industry. All these countries around the world have perfectly understood the vital importance of rapidly developing the semiconductor industry to put an end to their dependence on foreign suppliers. And let us not forget that in today's world which is seeing the development of very worrying armed conflicts, advanced microchips are also vital to the defense industry.