President Biden advocates a large injection of cash into the semiconductor industry in the United States.

President Joe Biden has called for a large capital injection into the semiconductor industry in the United States, citing an acute chip shortage, notably in India, and concerns that China may surpass the US in this important technology. Semiconductor chips are the brains of automobiles, medical devices, home appliances, and electronic devices. President Biden announced in January that Intel, an American technology company, will invest USD 20 billion in a semiconductor factory in Ohio to solve a global shortage aggravated by the COVID-19 epidemic and the US-China trade war. It includes full funding for the CHIPS for America Act, which…