TECHNOLOGY
“ This ramping up of chip production will boost American semiconductor research , development and production as the US currently only produces around 10 % of the world ’ s supply of semiconductors . The growth will help the US maintain a competitive technological edge by lowering the costs of chips and creating new American jobs .”
The promise of jobs is proving popular with the local populations where the chip facilities are being built . Furthermore , for those who have been battered by the supply chain disruptions of the past three years , the CHIPS Act is a welcome sign that the manufacturing sector has learned a lesson and is investing in a smoother future .
CHIPS and supply chain disruptions Since the COVID-19 pandemic , manufacturers have investigated reshoring opportunities as a solution to supply chain disruption .
“ The more the US can depend on tools and technology within its borders , the less risk they have when there are disruptions or disturbances in the global supply chain ,” says Gauri .
Impacted by varying sanctions , material supply and border controls from various countries , the global supply chain is dependent on several factors to operate smoothly .
“ If the US can manufacture more components and products within the country
88 August 2023