Can We Conquer Semiconductor Constraints?
There’s a tough road ahead for U.S. firms trying to diversify away from Taiwan chipmakers. According to a recent article from CNBC, Asian countries produce more than 70% of global semiconductors and U.S. tech firms rely on Taiwanese contract manufactures to produce up to 90% of their chips.
Tech firms like Apple, Amazon and Google rely heavily on Taiwanese manufactures for chip manufacturing as semiconductors are used in everything, from smartphones and computers to cars as well as home appliances. The global semiconductor shortage and growing U.S. tensions with China has initiated a drive to bring manufacturing back to America. The U.S. has earmarked billions of dollars for its efforts and is also said to be looking at alliances with other countries.
For updates on manufacturing and the U.S. economy, visit the Market Intelligence Center and subscribe to receive special reports from Prestige Economics. In these reports, Jason Schenker, President of Prestige Economics and Chairman of The Futurist Institute, provides time-sensitive economic reports to MHI members by email. Subscribe to this exclusive member benefit.
Not an MHI Member? Learn more about joining our community here.
