Is the CHIPS Act Making the Situation More or Less Dangerous?

The CHIPS Act is trying to make it less costly to build chip making facilities in the US. The goal is to reduce reliance on Taiwan by building new capacity in the US and providing subsidies for companies to do that. It's already clear that there's new investment coming in to the US that wouldn't have happened otherwise thanks to these subsidies. But $39 billion sounds like a lot of money, but in fact it's not that much money. And our reliance on Taiwan is so substantial that we're going to need vast new construction across the world.