• Bloomberg

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U.S. President Joe Biden’s blueprint for the U.S. semiconductor industry marks an ambitious effort to set industrial policy for a critical sector of the economy, but the strategy will need more money and global support to take back chip supremacy and pre-empt a rival effort from China.

The White House on Tuesday outlined a sweeping plan to secure the conduits for critical products from medicines to chips, responding in part to the growing economic and political sway of its Asian rival. Semiconductors — the basic yet incredibly sophisticated components in almost every modern device — took center stage in a 250-page White House report, which highlighted Beijing’s “ultimate goal of cyber sovereignty and establishing first-mover advantage.”

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