A new CHIPS Act bill has passed the US Congress that promises to give $52 billion in subsidies to encourage companies that produce semiconductors to move production to the United States.
The previously reported CHIPS Act also includes $200 billion for research into science, which can include AI, Robotics, and quantum computing.
In the short-term, this will not have much of an affect on the average consumer, but this is long-term investing that will hopefully pay off in the future. Supply chain issues have made graphics cards and consoles already difficult to get our hands on, and these forms of investments in domestic production could help to alleviate that.
Unfortunately, as China continues to saber rattle about its democratic neighbor Taiwan, the chances of the semiconductor issues abiding are farfetched.
Taiwan is one of the biggest exporters of semiconductors to the world and if it were to fall into a state of war due to the CCP’s Imperialist expansionism, this could lead to the global devastation of the world economy.
Considering this and markets where inflation is already an issue, and fear of global famine in the wake of Russia’s own expansionist war, this would be the last thing anyone would want to see.
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