Last year, the world almost ran out of semi-conductor chips.

New tonight a microchip shortage.

Chip shortage.

Global chip shortage.

The problem triggered by the pandemic persisting for more than two years now.

The impacts of the shortage were felt in all kinds of industries.

Because of the continuing shortage of microchips, new cars are not rolling off the assembly

line the way they used to.

Fridge's and microwave ovens could be the next victim.

From TVs to smartphones are sounding alarm bells.

The chip shortage, which was caused by global supply chain problems, didn't only hit consumer

goods.

It also hit the American defense industry.

It's just used in pretty much everything, every sort of electronic equipment, like tanks

and, you know, satellites.

That's our colleague Yuka Hayashi.

She says the shortage caught the attention of lawmakers in Washington.

Then military is relying on chips from overseas.

So we have become more aware of the importance of semiconductors as an element in national security.

And now the government is getting ready to give out tens of billions of dollars to the

semiconductor industry to try and solve this problem.

Welcome to the journal, our show about money, business and power.

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