The global chip shortage isn’t fading anytime soon—experts predict it could linger into 2023 and even 2024. Factories are maxed out, new plants cost billions and take years to build, and raw material shortages add fuel to the fire. Carmakers are idling lines, gamers can’t snag consoles, and prices for older models have soared. Companies are betting big on U.S. and European fabs to diversify supply chains, but fixing this tangled web will require global coordination—and patience.
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