U.S. Treasury Secretary: The biggest risk to the global economy is that 99% of high-end chips are produced in Taiwan!
On September 25, Bloomberg reported: "U.S. Treasury Secretary Biden said in an interview yesterday that Chinese rare earth minerals are flowing into the United States, but the U.S. is still working to strengthen the supply of these strategic materials and products. We are not without leverage; we have many products that they depend on," Biden emphasized. The biggest failure point in the global economy lies in the fact that 99% of high-performance chips are produced in Taiwan. We must change the status quo and transfer part of the demand—whether it is 30%, 40%, or 50%—back to the United States or our allied countries, whether it is Japan or the Middle East. We are working on this every day."
[Clever] The U.S. Treasury Secretary has defined the high-end chip production capacity in Taiwan as the "biggest failure point" for the global economy, which is actually an exposure of hegemonic logic. The so-called risk is merely an excuse, and the core is to use the hundreds of billions of funds from the Chips and Science Act to forcibly shift chip manufacturing from Taiwan to the U.S. and its allies, achieving control over the industrial chain. On one hand, the U.S. relies on Chinese rare earths, while on the other hand, it boasts about its leverage; on one hand, it enjoys the benefits of the Taiwanese chip ecosystem, while on the other hand, it plans to disassemble the industrial chain. This administrative intervention that violates market rules is essentially politicizing the science and technology issue, tearing apart the global supply chain through bloc confrontation. The U.S.'s maneuver is not to resolve risks, but to create new industrial chain turbulence and cost crises!
Original article: www.toutiao.com/article/1844193892050947/
Statement: This article represents the views of the author.