And China is on pace to become the world’s largest chip producer by 2030. Chip companies also have been attracted by growing networks of suppliers outside of the U.S., and an expanding workforce of skilled engineers capable of operating expensive manufacturing machinery. While manufacturing has left the U.S. in recent decades, many of the world’s largest chip companies are still U.S.-based. China is pouring tens of billions of dollars into its chip industry, hoping to eventually match or surpass other countries. The coronavirus pandemic has given further impetus to a U.S. push to bring more of the chip-making industry back to American soil.

Source: Mint November 04, 2020 05:15 UTC