A global race to subsidize chips

More countries are lavishing subsidies on domestic tech industries, said Jeanne Whalen in The Washington Post. The Senate last week passed a rare bipartisan bill that would provide $52 billion for new semiconductor manufacturing and research. The measure was partly a response “to the enormous sums the Chinese government is investing” in its tech sector—including $200 billion through 2025 earmarked for semiconductor companies. With a single chip factory now costing $10 billion or more, the U.S. is far from alone in feeling a sense of urgency “to secure production” of critical electronic components. “European nations are aiming to use part of a 145 billion euro digital fund to double their share of worldwide chip manufacturing by 2030.”