It is no exaggeration to say that semiconductors are powering the modern world.
Not only are they an important part of almost every electronic device we buy and use, but they also feed the factories that make the electronic devices we buy and use. And now not enough are being made.
To find a long-term solution, President Joe Biden has just commissioned economic and national security experts to look for gaps in the semiconductor supply chain in the United States. They want to see how dependent the US has become on other countries to manufacture semiconductors.
In the short term, however, semiconductor company CEOs and analysts say the chip shortage will persist well into 2021. This is how the global semiconductor chip shortage got so bad and what is being done to fix it.