On April 13 at 12:00 noon Moscow time, Valdai Club will host an expert discussion, titled “The Global Chip Race: What Will Be the Outcome for Russia, the US and China?”, timed to coincide with the release of the new Valdai Paper “US CHIPS and Science Act and Its Impact on Russia’s High-Tech Sector”.
The saying “chips are the new oil” aptly describes the role of semiconductors in modern economic development. Semiconductors in the form of microchips can be found in almost every electronic device - from our smartphones to missile attack warning system radars. Chips are the world's fourth most traded commodity after crude oil, petroleum products and automobiles. Today, the prospects for a state’s technological leadership largely depend on its position in the semiconductor market.