Economics
Global Scramble for Scarce Chip Supplies Drives Asia Growth
- Korea’s exports jump in February amid surging chip demand
- Taiwan, South Korea are home to world-leading chip makers
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Global manufacturers’ scramble to get hold of scarce semiconductor supplies is driving faster growth in Asia.
Demand for the chips used inside cars, touch screens, and work-from-home gear amid the pandemic fueled the biggest jump in South Korea’s early-month exports since late 2018, a report showed Monday. Taiwan’s government over the weekend said it sees 2021 economic growth being the fastest in seven years, thanks to the world’s appetite for semiconductors.