To regain global dominance, US will propose semiconductor chip law, China holds a 2.4 trillion market

At present, the US is in a leading position in semiconductor research and development, but weak in chip manufacturing. The US hopes to solve the chip shortage crisis while making the local semiconductor industry chain more complete. NTU Economics Prof Tan Kong Yam said that while the US has obvious advantages in chip technology; China has another "ace" – a huge chip consumer market.

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