The Wall Street Journal
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Why the Chips Act Signals a Return to ‘Industrial Policy’ | WSJ
Posted
March 27, 2023
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8:30Now PlayingConcerns about China’s growth in chip manufacturing has helped create bipartisan consensus for boosting U.S. microchip production. The $53 billion Chips Act seeks to end the U.S.’s reliance on foreign-made semiconductors, especially those used by the Pentagon.
After the end of the Cold War, industrial policy fell out of favor in Washington, but pandemic-induced supply chain shocks have created a new example of the federal government using its cash to remake an industry it sees as crucial to national security.
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