Abstract
Computer chips are gaining increasing strategic importance in the course of digital transformation. Value creation is highly internationally interconnected, with North America and the Asia-Pacific region emerging as dominant players. At the same time, a global subsidy race is unfolding. Since the European chip market is growing only below average, international trade is coming under pressure, and the EU is heavily dependent on imports of semiconductor components – particularly from China – significant risks arise for growth and supply security in a digital world. For the EU and its member states, however, there is no simple solution.