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American CHIPS Off the Chinese Block

America's world-leading semiconductor industry is a testament to the advantages a competitive market economy has over a command economy like China. But now that the United States has gotten into the business of favoring some producers over others, it is setting the industry up for chronic under-performance.

WASHINGTON, DC –Semiconductors, one of the most important innovations of the last century, are now crucial inputs in mobile phones, personal computers, educational technologies, vehicles, heavy machinery, medical instruments, military equipment, and much more.