Diane Francis β’ 559 implied HN points β’ 18 May 23
- Semiconductor chips are extremely important today, like how steel was key during World War II. They're used in everything from smartphones to military systems, making them a vital part of the global economy.
- The CHIPS Act in the U.S. aims to boost domestic production of chips and limit Chinaβs access to advanced technology. This has created a significant economic and geopolitical tug-of-war between the two countries.
- China is trying to gain leverage by controlling resources needed for technology, like lithium and cobalt, while the U.S. deals with the challenge of ensuring fair trading practices. Both countries need a balance to improve the global economy without conflicts.