Of all the shortages that we are currently facing, the global computer chip shortage may be the most serious. That is because the chip shortage is expected to last “a few years”, and just about every sector of the world economy will be dramatically affected by this. When people think of products that contain computer chips, they tend to think of electronic devices such as televisions, phones and laptops. But computer chips are in thousands of other products as well. They are in the vehicles that we drive, they are in the toys our children play with, and they are in the heavy machinery that farmers use to produce our food. Without computer chips, our society as it is constituted today simply could not function, and so this is a really big deal.
Specifically, companies have largely been outsourcing the manufacturing process to two companies – Samsung and TSMC. As a result, about three-quarters of the world’s total semiconductor manufacturing capacity comes from China, Japan, South Korea and Taiwan.
So for the foreseeable future, there is going to be a chip shortage, and the head of IBM is telling us that it could last “a few years”…theeconomiccollapseblog A Severe Computer Chip Shortage Will Last “A Few Years”, And This Could Plunge The Global Economy Into Utter Chaos