Quantcast
31.2 C
United States of America
Wednesday, August 4, 2021

US facing enormous shortage of semiconductors & no government money could fix it, economist tells Boom Bust

Must read

US facing enormous shortage of semiconductors & no government money could fix it, economist tells Boom Bust

US President Joe Biden has signed an executive order aimed at addressing a global semiconductor chip shortage. His infrastructure plan also includes $ 50 billion for the American semiconductor industry.

RT’s Boom Bust is joined by Jeffrey Tucker of the American Institute for Economic Research, who says the chip shortage problem in the US started back in 2019, or even 2018, with the disruption of supply chains from China.

“That is the real underlying issue here,” he says, adding that “The Trump administration really began to construct a kind of gigantic technology wall between the US and China, and other places in the world.”

Tucker explains that the real problem is that “it’s made enormous shortages in this country and everybody knows that. So, we’ve got to fix that problem and no amount of government spending is going to fix it.”

- Advertisement -

For more stories on economy & finance visit RT’s business section

RT
This article originally appeared on RT Business News

- Advertisement -
US facing enormous shortage of semiconductors & no government money could fix it, economist tells Boom Bust
Newslanes Mediahttps://newslanes.com
Newslanes.com is the leading e-news platform for the latest breaking news of world today. We aggregate and gather popular stories, business news, tech releases and much more. The news repository targets everyone after factual and well-researched information from a dedicated global team of news reporters and editors.
- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -

Latest article