Whoever dominates chip manufacturing dominates the market as well as the battlefield, writes NYT columnist David Brooks.
President Joe Biden meets with President Xi Jinping of China in Bali, Indonesia, Nov. 14, 2022.So I guess we’re in a new cold war. Leaders of both parties have become China hawks. There are rumblings of war over Taiwan. Xi Jinping vows to dominate the century.
Second, the geopolitics are different. As Chris Miller notes in his book “Chip War,” the microchip sector is dominated by a few highly successful businesses. More than 90% of the most advanced chips are made by one company in Taiwan. One Dutch company makes all the lithography machines that are required to build cutting-edge chips. Two Santa Clara, California, companies monopolize the design of graphic processing units, critical for running AI applications in data centers.
I’m even more amazed by how the new cold war is rearranging domestic politics. There have always been Americans, stretching back to Alexander Hamilton’s Report on Manufactures in 1791, who supported industrial policy — using government to strengthen private economic sectors. But this governing approach has generally been on the margins.
Over these coming years, U.S. leaders will have to figure out how effective that spending is and how to respond. Even more than the last cold war, this one will be waged by technological elites. Both sides are probably going to be spending lots of money on their most educated citizens — a dangerous situation in an age of populist resentments.
On the left are those who want to use industrial policy to serve progressive goals. The Biden administration has issued an incredible number of diktats for companies that receive CHIPs Act support. These diktats would force businesses to behave in ways that serve a number of extraneous progressive priorities — child care policy, increased unionization, environmental goals, racial justice, etc. Rather than being a program focused on boosting chips, it seeks to be everything all at once.
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