Biden signed an executive order that should bolster the US chip manufacturing market. America has always been a leader in chip wafer design and production, but every year there is a slight decline in market share. On the other hand, China is making up to a $1 trillion in investment into their chip market while they continue to gain market share. This is not only a financial concern, but also raises security concerns. The current shortage of electronic components is a great example of how the reliance on production in other countries could be a detriment to overall production in the US. Biden’s executive order may make the difference, but it will not be soon enough to solve our current dilemma.
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