Interesting article and more evidence the U.S. needs to reform its regulatory regime. It costs far too much and takes far to long to build in America, including semiconductor fabs. Thanks for covering this.
However, I am confused why you frame all of this as "deglobalization." How is it deglobalization that chips will now be built in more countries rather than less? It's true the U.S. and other countries are taking steps to reshore some stuff and there is a trend to putting up barriers to trade but there is as of yet no sign of deglobalization in the world. Trade volumes are up (though often not as much as GDP). But remember globalization is more than trade. It's also finance, migration and sharing of ideas. Finance continues to flow more globally each year (https://www.bis.org/statistics/rpfx22.htm?m=2677), people are moving to different countries at greater levels (https://ourworldindata.org/explorers/migration?tab=chart&facet=none&country=~OWID_WRL&hideControls=false&Metric=Number+of+international+immigrants&Period=Total&Sub-metric=Total) and now that the pandemic is over global travel is starting to return to pre-pandemic levels. And ideas continue to cross borders at a fast clip. If you are going to claim there is deglobalization you need to define what you mean and then offer some data to back up the claim. Again, as of yet the data does not show deglobalization is occurring.
Thanks again for the interesting article despite my disagreement with framing the issue as deglobalization.
Interesting article and more evidence the U.S. needs to reform its regulatory regime. It costs far too much and takes far to long to build in America, including semiconductor fabs. Thanks for covering this.
However, I am confused why you frame all of this as "deglobalization." How is it deglobalization that chips will now be built in more countries rather than less? It's true the U.S. and other countries are taking steps to reshore some stuff and there is a trend to putting up barriers to trade but there is as of yet no sign of deglobalization in the world. Trade volumes are up (though often not as much as GDP). But remember globalization is more than trade. It's also finance, migration and sharing of ideas. Finance continues to flow more globally each year (https://www.bis.org/statistics/rpfx22.htm?m=2677), people are moving to different countries at greater levels (https://ourworldindata.org/explorers/migration?tab=chart&facet=none&country=~OWID_WRL&hideControls=false&Metric=Number+of+international+immigrants&Period=Total&Sub-metric=Total) and now that the pandemic is over global travel is starting to return to pre-pandemic levels. And ideas continue to cross borders at a fast clip. If you are going to claim there is deglobalization you need to define what you mean and then offer some data to back up the claim. Again, as of yet the data does not show deglobalization is occurring.
Thanks again for the interesting article despite my disagreement with framing the issue as deglobalization.
Wouldn’t it be great if the regulatory paperwork in the US could be simplified or reduced.