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The $490bn question: Can the world afford its Taiwan chip dependence?

Biden looks to make supply chains more resilient, but it will not be cost-free

TOKYO/WASHINGTON -- President Joe Biden laid out a bold vision of a reinvigorated American semiconductor industry at a virtual summit Monday with leaders of companies disrupted by the current chip shortage, an event that has illustrated how much global chip production has become centered on Taiwan.

During the summit, Biden urged Congress to pass his plan to invest $50 billion in the U.S. semiconductor industry, noting that it has bipartisan support. By expanding the American presence in the chip industry, Biden hopes to make global supply chains more resilient to disruptions.

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