Economist Podcasts
Trust the processor: America’s CHIPS Act one year on
Aug 9, 2023
Shailesh Chitnis, a business writer at The Economist with a focus on the semiconductor industry, teams up with international reporter Avantika Chilkoti, who analyzes Britain’s foreign aid. They dissect the CHIPS Act, discussing its early successes and the ongoing challenges in U.S. semiconductor production, especially compared to Taiwan. They also tackle the controversial merger of UK's aid departments and its implications on international support. Lastly, they delve into the innovative sound branding of electric vehicles, showcasing the creative side of automotive marketing.
22:26
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Quick takeaways
- Despite challenges, the US is projected to have 18% of the world's leading-edge chip manufacturing capacity by 2025.
- The merger of DFID and the UK's Foreign Office has led to reduced aid budgets, resulting in negative consequences such as increased unsafe abortions and lack of healthcare in recipient countries.
Deep dives
The Chips Act and America's Semiconductor Manufacturing
The Chips Act introduced by President Joe Biden aimed to bring back high-tech chip manufacturing to the US. While progress has been made with several chip manufacturing companies announcing plans to build fabs in the US, challenges remain. Building fabs in the US takes longer, costs more, and availability of skilled labor is an issue. Despite these challenges, the US is projected to have around 18% of the world's leading-edge capacity by 2025.
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