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World s supply of chips is endangered
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Vaccine shortage in Taiwan threatens semiconductor supply
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May 11, 2021 Share
The global shortage of semiconductors, or microchips the “brains” in all electronic devices, has heightened the geopolitical significance of Taiwan and its chip-making sector. The island is home to the world’s largest contract chipmaker: Taiwan Semiconductor Manufacturing Co (TSMC).
Many describe Taiwan’s strength in microchips as its “silicon shield,” which can protect it against Chinese aggression.
But others suspect the sector, coveted by China, may also trigger China to accelerate its efforts to take advantage of Taiwan’s tech prowess.
‘Not let war happen’
When asked to explain the shield, TSMC chairman Mark Liu told CBS News’ “60 Minutes” program last week that it means “the world all needs Taiwan’s high-tech industry support. So, they will not let the war happen in this region because it goes against interest of every country in the world.”
Taiwan Business TOPICS
Exports Climb as FOREX Reserves Fall
The International Monetary Fund (IMF) in April raised its forecast of Taiwan’s 2021 GDP growth to 4.7%, much higher than the 3.2% figure it provided last October. The organization’s biannual World Economic Outlook report cited a “stronger than anticipated rebound” of the global economy as the reason for its upward adjustment. The new projection surpasses both the 4.64% forecast by Taiwan’s Directorate General of Budgeting, Accounting and Statistics (DBGAS) and the 4.53% predicted by Taiwan’s Central Bank. According to the IMF report, Taiwan’s predicted growth ranks third among the “Four Asian Tigers,” after that of Hong Kong and Singapore.
2021/04/30 16:49 Taiwan s economy grew by 8.16 percent during Q1, says the government Taiwan s economy grew by 8.16 percent during Q1, says the government (CNA photo) TAIPEI (Taiwan News) The economy likely grew by 8.16 percent during the first quarter of 2021, the fastest pace since the final quarter of 2010, the government said Friday (April 30). The new figure was also 1.96 percent higher than the previous estimate from the Cabinet-level Directorate-General of Budget, Accounting and Statistics (DGBAS), CNA reported. The expansion of domestic manufacturing capacity and the continued high level of domestic investment, as well as exports and investments doing better than expected, are the main factors contributing to the gross domestic product (GDP) surge.
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