As the world becomes increasingly digitized, more and more power tools and appliances are being equipped with Bluetooth chips that track their locations. In 2021, the average car contained about 1,200 chips worth $600, twice as many as in 2010. This trend is only expected to continue as we move further into the 21st century.

In November, South Korea's semiconductor production experienced its most significant decline since the global financial crisis, which had a negative effect on the nation's industrial output.

The oversupply of chips marks a sharp turnaround from a global shortage during two years of supercharged demand.

Although the year started off promisingly for tech policy, many key initiatives have been left unfinished by the 117th Congress.

China's purchases of machines used to manufacture computer chips fell to their lowest level in more than two years in November, as demand for electronics collapsed and new US export restrictions limited the ability of Chinese firms to buy the most advanced equipment.