The United States is forming an alliance with East Asian countries to answer the chip shortage present in the entire industry, as well as center on supply chain resilience for the future of the business. It includes countries like Taiwan, South Korea, and Japan which also center on delivering and manufacturing the semiconductors needed in the market.
The US dubbed this group the “Chip 4,” all with a common goal to answer the chip supply chain problems in the present.
US Chip 4 Discuss Supply Chain Resilience
(Photo : Photo by David Silverman/Getty Images)
An Intel chip is seen in a circuit board being built at an ECI Telecom high-tech plant January 15, 2003 in Petah Tikva which is located in central Israel. ECI Telecom, which specializes in telecommunication networking solutions, is placed amongst the 10 leading companies in Israel with its sales in excess of US$1.2 billion last year and employs over 3,500 employess worldwide.
Taiwan Economy Minister Wang Mei-Hua Wang revealed that there was a preliminary meeting regarding a future collaboration to create semiconductors and supply the world in the future. According to Reuters report, Wang told reporters that this initiative was led by the United States and invited several world leaders in chip production.
The meeting aims to ensure cooperation among these powerhouse countries regarding chips, as well as ensure supply chain resilience in the world.
This collective will ensure that future chip manufacturing will be enough to supply everyone with what it needs, especially for the growing technological advancements in the world.
Chip 4 Consists of International Partners
The United States dubbed this group the “Chip 4” and it includes East Asian countries working together towards one goal, and it is to answer the chip shortage. The likes of Taiwan, South Korea, and Japan complete the quartet.
Massive companies from each country will also focus to deliver on this venture, including that Taiwanese Semiconductor Manufacturing Co. Ltd., Samsung Electronics Co. Ltd. from South Korea, and SK Hynix from Japan.
Chip Shortage in the World
Chip production is one of the most sought-after industries in the world now, aside from gas shortage, as it centers on the massive shortage that most production and manufacturing get delays due to its issues. Many companies already claim that there are fewer chip problems present now, but it is not entirely applicable to all manufacturers.
There was a plan made by the United States to answer the chip issues present in the world now, and it aims to center on an in-country solution to produce the semiconductors needed across many industries. However, it faces many obstacles and offices that need its approval before it heads to the President for final deliberation.
The initiative is to create more chips in the long run and answer the shortage and problems which affect the supply chain and manufacturing of these chips for the world. Chip 4 will soon deliver on solutions to answer this modern problem, particularly with its future plans to deliver on many technology needs to progress and develop.
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Written by Isaiah Richard