Title: The global chip shortage is going from bad to worse. Here's why you should care - CNN
Headings: The global chip shortage is going from bad to worse. Here's why you should care
The global chip shortage is going from bad to worse. Here's why you should care
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Content: We're ready to go bigger and faster
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Watch self-driving car struggle to understand traffic cones
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London (CNN Business) In the market for a new car, smartphone or washing machine this year? A global shortage of computer chips could mean you have to wait a while and pay more. A growing number of manufacturers around the world are having trouble securing supplies of semiconductors, delaying the production and delivery of goods and threatening to push up the prices paid by consumers. Several factors are driving the crunch, which was initially concentrated in the auto industry. The first is the coronavirus pandemic, which plunged the global economy into recession last year, upending supply chains and changing consumer shopping patterns. Carmakers cut back orders for chips while tech companies, whose products were boosted by lockdown living, snapped up as many as they could. Other shocks, such as US government sanctions on Chinese technology companies and extreme weather, have also contributed to the shortage of supply.