A number of sanctions have been imposed on China by the US government over the years, and now a Chinese economist at the government has called for drastic measures to seize Taiwan Semiconductor Manufacturing Company, or TSMC, if sanctions continue in the coming years. .
“If the US and the West impose devastating sanctions on China, like the sanctions against Russia, we will have to fix Taiwan,” Chen Wenling, chief economist at the China Center for International Economic Exchange, said in a report. bloomberg, The research group is led by the National Development and Reform Commission, China’s top economic planning agency.
Chen was speaking at an event last month organized by the Chongyang Institute for Financial Studies at Renmin University. She was talking about US-China relations in the last few years.
“Especially in rebuilding the industrial chain and supply chain, we must seize TSMC,” he said. It also revealed that TSMC has detailed plans to move its base to the US, where it is going to build six factories for chip manufacturing. The presence of TSMC in Chen’s speech is hardly surprising.
The Chinese government views the manufacturing hub as a strategic asset, and for very good reasons. TSMC is tasked with manufacturing 50 percent of the chips supplied worldwide, and it counts Apple as one of its customers, which uses chips made in Taiwan for its iPhones.
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China sees TSMC as a big part of improving the supply chain that could aid the country’s economic prospects for years to come, and help it function even with restrictions imposed by various countries. .
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