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WION-VOA Co-Production: G7 announces joint semiconductor plan
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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