The world is facing a shortage of semiconductor chips, and the ramifications can be seen in the temporary closing of several US auto plants around the country, reports NPR. The chips are crucial to more than automobiles, however, and the supply crunch threatens to slow economic recovery from the pandemic. The issue took center stage at the White House on Monday as President Biden convened a virtual summit with industry leaders. Coverage:
- The US used to be a world leader in chip manufacturing, but it has largely ceded control to Taiwan, South Korea, Japan, and China, reports Politico. In 1990, the US made about 37% of semiconductors, but the percentage has since shrunk to 12%, per NPR.