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March 22, 2024, Opinion: "The president hopes the money will kick-start semiconductor production in America, but that might take a lot more investment in the future. President Biden's announcement on Wednesday of an $8.5 billion federal grant to Intel to build some of the world's most advanced computer chips is one of the most remarkable American experiments in industrial policy since Dwight D. Eisenhower used federal funds to build the nation's highway system. But rather than a new beginning in America's effort to restore a technological ability it invented -- and then all but lost -- there is significant risk it could be the high point of the effort. When the CHIPS and Science Act passed two years ago, it was promoted as a down payment on the kind of long-term investment in critical sectors of the economy that made Taiwan the world's dominant player in chip manufacturing. It is a strategy China began emulating nearly a decade ago, pouring new money, year after year, into chips and high-capacity batteries, quantum computing and artificial intelligence, to name just a few. "