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G7 set to launch a semiconductor supply chain group
The Group of Seven alliance of nations is working on a formal plan to deal with future disruption to the semiconductor supply chain, say insiders.
According to a draft statement seen by Bloomberg, the G7 was preparing to discuss the plan at its summit in Fasano, Italy last week. Its action came in response to the disruption caused by the pandemic and other unforeseen global events.
The G7 – which comprises the US, Canada, Germany, France, Italy, Britain, and Japan – was caught short by the recent problems, which caused dramatic disruption to the consumer electronics and automotive markets in particular.
And now there's the China question too. The vast majority of contract semiconductor manufacturing is based South Korea and Taiwan – neither of which are in the G7. So the G7 members face a tricky challenge trying to prepare for any crisis affecting the region.
