October 4, 2022

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Biden expects Intel's US investment to improve its Chinese agenda

Biden expects Intel’s US investment to improve its Chinese agenda

But the center of gravity of global industry is still in East Asia. Although the United States is credited with advanced research and design in the chip industry, it has grown decades ago to largely outsource production from the world’s largest semiconductor manufacturer to Asian factories.

This has proven to be an impact, as epidemic-induced strikes have left businesses around the world short of workers and raw materials. Car manufacturers in particular have been hit Forced to reduce production Last year.

The chip shortage has become one of the biggest factors driving inflation, and as the midterm elections approach, there is a huge grip among American voters. Inflation hit December is the worst in 40 years, A 37 percent increase in the price of used cars.

In an effort to alleviate the chip shortage, Biden’s management held meetings with semiconductor executives, set up a global alarm system to detect shortages, and asked for detailed information from chip companies about possible disruptions. The Commerce Department is expected to release some information by the end of this month.

Commerce Secretary Gina Raymondo said in a statement on Friday that Intel’s investment and productivity was “a victory for American consumers who expect lower prices when they take home the semiconductors that sustain our economy.”

But given the amount of time it takes to build semiconductor facilities, analysts say management has little control over any short-term trends in the industry.

He said his industry appreciates the White House’s focus on this area, including encouraging companies to share more information. Said the newcomer. “But the truth is, it can only be done by the government,” he said. “These are very complex, deep global distribution chains, and the market must operate through this.”

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Katie Edmundson Contribution report.