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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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20.01.26 - 06:24
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China Flies Military Drone Into Taiwan Airspace For First Time (ZeroHedge)
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China Flies Military Drone Into Taiwan Airspace For First Time
In the latest geopolitical escalation - because let's face it, all that's left now for the global geopolitical chaos to be complete is for Beijing to finally launch its much anticipated invasion of Taiwan - China sent a military drone into Taiwanese airspace for the first time, underscoring Beijing's efforts to test the island's defenses.
The Chinese reconnaissance drone flew in the airspace of Pratas Island for about four minutes early Saturday, Taiwan's Defense Ministry said in a statement. The islet is near the southern end of the strait, about 400 kilometers (250 miles) from Taiwan's main island.
The unmanned aerial vehicle was a WZ-7 known as 'Soaring Dragon' according to a Taiwanese national security official. It flew at an “altitude outside the range of our air defence weapons and left following warnings Taipei broadcast via international radio channels”, Taiwan's defence ministry said in a statement.
The minist...
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