The pendulum is slowly swinging West in the geopolitical chip wars

The US had fallen behind Asian production levels but that may be about to change.

A clean room of semiconductor manufacturer SkyWater Technology where computer chips are made, in Minnesota. PHOTO: REUTERS
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(FINANCIAL TIMES) - In recent decades, investors have operated on the basis that the global balance of power is shaped by the source - or "prize", as the writer Daniel Yergin puts it - of oil.

Now, however, a new tagline is percolating: Computer chips are the 21st century strategic version of the fossil fuel. Or that, at least, is the message being promoted by Mr Pat Gelsinger, chief executive officer of Intel, America's biggest chipmaker.

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