After the United States’ initiative to boost its semiconductor manufacturing capabilities and reduce its reliance on Taiwan, the EU is also taking significant steps to strengthen its semiconductor industry with its own Chips Act. According to a report from the South China Morning Post, the European Union plans to reduce its dependence on US and Asian suppliers with a $47 billion investment, aiming to increase the EU’s share of global chip output to 20% within a decade. While initially, the European Commission proposed funding only for advanced chip plants, in the wake of the global chip shortage, the EU governments...