Of all the trade battles between Japan and the U.S., few have provoked more friction than the fight over the semiconductor industry. Ten years ago, U.S. companies manufactured 80% of the world's computer microchips, but since then the Japanese have taken over roughly that share. Last week a group of seven American computer companies, including archrivals IBM and Digital Equipment, announced a move that might help the U.S. recoup some of its lost ground. The companies will create a joint venture that will manufacture and sell dynamic random-access memory (DRAM) chips using IBM technology.
U.S. companies currently account for only 10%...
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