Sorry USA, $40 Billion Won’t Buy Chip Independence
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President Biden and Apple’s Cook applauded a plan that offers a minuscule share of global chip capacity.
President Joe Biden is so proud of Taiwan Semiconductor Manufacturing Co.'s new facility that he went to Arizona to celebrate it. A $40 billion figure tends to attract heads of state and corporate chieftains, with the chip factories TSMC is building there being hailed as the largest foreign direct investment in US history. “Apple had to buy all the advanced chips from overseas,” Biden said at the plant outside Phoenix on Tuesday. “Now, they're going to bring more of their supply chain here at home. It could be a game changer.” Unfortunately, Mr President, it won't be a game changer. Everything announced by TSMC this week was in line with long-term plans for the site. Th...