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21.01.26 - 16:15
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Bessent Warns Taiwan Chip Reliance Risks "Economic Apocalypse" (ZeroHedge)
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Bessent Warns Taiwan Chip Reliance Risks "Economic Apocalypse"
Authored by Tom Ozimek via The Epoch Times,
U.S. Treasury Secretary Scott Bessent warned on Jan. 20 that the world economy faces a single, outsized systemic vulnerability because advanced semiconductor production remains overwhelmingly concentrated in Taiwan, saying a blockade or destruction of the island's manufacturing capacity could trigger an “economic apocalypse.”
“I would say that the single biggest threat to the world economy, the single biggest point of [...] failure is that 97 percent of the high-end chips are made in Taiwan,” Bessent said during remarks at the World Economic Forum in Davos on Jan. 20. “If that island were blockaded, that capacity were destroyed, it would be an economic apocalypse.”
The Trump administration is pushing to accelerate the reshoring of critical supply chains—especially semiconductors and critical minerals like rare earths—amid ongoing tensions with China and concerns...
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21.01.26 - 04:24
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What Happens if China Attacks Taiwan? (Bloomberg)
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Recent US military action in Venezuela and the escalating push to acquire Greenland have raised urgent questions about the stability of international norms. As global order shifts, concerns are mounting over a potential Chinese move on Taiwan. The German Marshall Fund of the United States has gamed out scenarios for a potential cross-strait conflict, outlining the strategic and economic costs Beijing might face. (Source: Bloomberg)...
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