WION-VOA Co-Production: G7 announces joint semiconductor plan
Edited By WION Video Desk
Published: Apr 14, 2023, 03:30 IST | Updated: Apr 14, 2023, 03:30 IST
Finance ministers from the seven largest global economies announced plans this week to work more closely with developing countries on supply chains security. The G7 leaders view a high concentration of supply chains in a single country as undesirable. This comes as the United States and Europe are doing the same – in light of increased tensions around Taiwan, a major producer of semiconductor chips. Washington has allocated more than $50 billion dollars to re-shore chip research and manufacturing. The global need for the chips is expected to double over the next decade.
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