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The car manufacturer Jaguar Land Rover is the latest company to have to stop production due to the lack of electronic data components. In the past, companies such as Ford, GM, Toyota and Volkswagen have for long periods been forced to do the same.
Daimler will stop production at two German Mercedes factories from Friday – for the time being for a week. Major electronics companies, such as Samsung, have chosen not to launch product launches in the coming months due to a shortage of components. This will include the smartphone series Note, which usually comes with a new model every summer.
– The entire supply chain for components is still unstable, and uncertainty ahead is high. We are prepared to increase production when it proves possible, said Volvo’s CEO Martin Lundstedt during the results presentation on Thursday.
Danger of inflation
Taiwan Semiconductor Manufacturing Co. (TSMC) is the world’s largest manufacturer of electronic data components. There is hardly an electronic product that does not have components from TSMC. Production is in full swing. Demand is far higher.
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During the presentation of results on Thursday, TSMC’s CEO said that the situation has worsened since January, but that it could lead to an improvement from the end of the third quarter.
The financial institution Goldman Sachs believes that the scarcity of micro-data chips will increase inflation by 0.4 percentage points by 2021. This will come from a price increase of an average of three percent on finished products that use computer chips. If this turns out to be the case, it could have an effect in the form of up to one percent lower economic growth for the world economy, Goldman Sachs writes in a report.
The financial institution believes that global growth is more likely to be around 0.5 per cent lower due to the lack of components in 2021.
“Even though microcomputer chips make up only 0.3 percent of US production, they are used in 12 percent of production effort,” Goldman Sachs writes according to CNBC.
The new oil
The financial institution TS Lombard sees a structural shift that shifts global geopolitics and finance due to computer chips.
“As the world becomes more and more interconnected, more automated and greener, they will use a higher proportion of data components for each unit of economic growth that is created,” writes TS Lombard analyst Rory Green.
Companies such as Taiwanese TSMC and South Korean Samsung Electronics are market leaders and control this market. In the last five years, computer chips have increased to 64 percent of Taiwanese exports and 41 percent of South Korea. This expects TS Lombard to continue to increase.
«Taiwan and South Korea are new Opec. Micro data chips are the new oil “, writes analyst Rory Green at the financial institution.
The analyst believes that global economic growth is dependent on output in these two countries and that it affects inflation – and the balance of power between the superpowers the United States and China.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We want you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms look here.
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