Trillions of Dollars at Stake: China-Taiwan Tension and the Global Economy

2023-11-02 10:41:55
Miller, the author of “Chip Wars”, came to Taiwan in March to participate in the “2023 Semiconductor Century Dialogue”.Photo by Liao Ruixiang

Chris Miller, an American scholar who wrote the book “Chip War”, pointed out that if China decides to block Taiwan, the global economy may lose trillions of dollars within two quarters.

Hindustan TimesreportMiller told the newspaper’s editor-in-chief R Sukumar that Taiwan is an important player in the world’s important semiconductor industry, but the current political trend and China’s policy towards Taiwan are difficult to predict.

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Miller said that under such uncertainty, companies and countries around the world are trying to re-evaluate the dependence of supply chains on China and Taiwan. “Businesses find it difficult to completely ensure that they are not affected by cross-strait risks, but they We still have to do it because the price is too high.”

Miller noted that if China decided to block Taiwan or otherwise disrupt semiconductor shipments, “the best estimates of damage would be trillions of dollars in losses to the global economy in the first two quarters alone. So that would It is a challenge that neither the government nor enterprises can ignore, even if the problem is very difficult.”

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