America has led the world in designing and building the most advanced chips in the market. But that position is being challenged as big manufacturing hubs like Taiwan and Korea rise in prominence. And massive government spending efforts in China to bolster its chip industry also threaten to upend the U.S.’s competitive advantage in the sector.

Policymakers have responded with subsidies to boost domestic chipmakers and bring some components of production back to U.S. soil. But industry leaders say it will be a long road.

On this Growth Stories Spotlight, we speak to Chris Miller, economic historian and author of the book “Chip War: The Fight for the World’s Most Critical Technology,” to get his thoughts on the state of the industry and the race to reassert America’s dominance over the global semiconductor sector.

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