Semiconductors serve as the lifeblood of most advanced economies, enabling high-tech goods such as mobile devices, computers, household appliances and automobiles. Prior to COVID-19, powerful countries penned policies that would allow them to procure a larger market share of semiconductor production in recognition of their accelerating importance. 

Now, amid an unremitting supply chain crisis, nations are revisiting their approaches. Overarching endeavors such as Made in China or Make in India, through which Beijing and New Delhi funnel hundreds of billions of dollars into their semiconductor industries, reflect the belief that reshoring is critical.

These inward-facing policies seek to