The chips are down: Why there's a semiconductor shortage

The European Union is seeking to double its share of global chip-manufacturing capacity to 20 percent of the market by 2030.PARIS: A shortage of semiconductors has sent shockwaves through the global economy, squeezing supplies of everything from cars to headphones.The dearth of chips has exposed the modern worldu0027s reliance on these miniscule components, the basic building blocks of computers which allow electronic devices to process data. Why is the shortage happening, and what can be done about it?The start of the Covid-19 crisis in early 2020 prompted a global spending spree on electronic items — from extra monitors as people…