China has been hit with multiple sanctions by the US government in the past few years, and now a Chinese economist from the government has called for a drastic move to seize Taiwan Semiconductor Manufacturing Co or TSMC if the sanctions continue to intensify in the coming years.
“If the US and the West impose destructive sanctions on China like sanctions against Russia, we must recover Taiwan,” Chen Wenling, Chief Economist, China Center for International Economic Exchanges was quoted saying in a report by Bloomberg. This research group is spearheaded by the National Development and Reform Commission, which is China’s top economic planning agency.
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Chen was speaking at an event last month that was hosted by the Chongyang Institute for Financial Studies at Renmin University. She was talking with regards to the US-China relations over the past few years.
“Especially in the reconstruction of the industrial chain and supply chain, we must seize TSMC,” he added. She also pointed out that TSMC has elaborate plans to shift its base to the US, where it is going to build six factories for chip manufacturing. TSMC figuring in Chen’s speech is hardly surprising.
The Chinese Government sees the manufacturing hub as a strategic asset, and for very good reasons. TSMC is entrusted with manufacturing 50 per cent of the chips supplied across the globe, 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 the supply chain revamp that could aid the country’s economic prospects for years to come, and help it function even with sanctions imposed by different countries.
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