Global chip shortage is a massive problem for a world increasingly dependent on technology
For the United States, the chip shortage is a huge problem. Currently, the surge in chip prices has not affected consumers directly. The stimulus money being injected into the economy has been able to keep spending up as well. But that’s going to change.
While the average person may not see the importance of semiconductors and their prices on the economy, both Trump and Biden’s administrations have acknowledged the issue as one of National Security. In July 2017, Trump signed an Executive Order regarding the security of U.S. supply chains caused by decades of deindustrialization, Free Trade, and lopsided trade policy.
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