More than a decade into Beijing’s push for self sufficiency, Chinese firms are producing fewer, lower-performing chips than their foreign competitors.

Chips are one of the most common packaged snacks on the planet, and it is hard to walk into a shop without seeing rows of bags in every flavor imaginable. Most of us still picture them as simple ...

If China invades Taiwan and cuts off its chip exports to American companies, the tech industry and the U.S. economy would be crippled.