The U.S.-China Battle for Semiconductor Supremacy and Reshaping of Global Supply Chain

Hyung-Gon Jeong ()
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Hyung-Gon Jeong: KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP), Postal: [30147] Building C, Sejong National Research Complexa, 370, Sicheong-daero, Sejong-si, Korea, https://www.kiep.go.kr/eng/

No 22-44, World Economy Brief from Korea Institute for International Economic Policy

Abstract: The realization of digital transformation (DX) and the Fourth Industrial Revolution (4IR) has led to the development of new technologies in areas such as AI, big data, metaverse, autonomous vehicles, digital currency, and blockchain technology. While these sectors are expected to continue to grow, major countries including the United States and China are fiercely competing to secure a global supply chain for the semiconductor industry. Built on free trade, the global division of production in the semiconductor industry has driven corporate innovation and technology development. However, the trend of technological nationalism and countries’ efforts to build a value chain within their territory are expected to hurt the global semiconductor industry. The ever-deepening hegemony competition between the U.S. and China in the semiconductor industry could have a profound impact not only on the Korean economy but also on a restructuring of the global semiconductor supply chain. This study analyzes the supply chain structure and risks of the Korean semiconductor industry, along with U.S. and Chinese policies to foster the semiconductor industry, going on to explore corresponding countermeasures.

Keywords: U.S.-China Battle; Semiconductor; Global Supply Chain (search for similar items in EconPapers)
Pages: 5 pages
Date: 2022-10-13
New Economics Papers: this item is included in nep-cna and nep-int
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