A Chinese military assault on Taiwan would have a much greater impact on global trade than the ongoing conflict in Ukraine, Taipei’s top trade negotiator warned on Tuesday, insisting it would lead to a global shortage of semiconductor chips.
Speaking to Reuters on the sidelines of a major World Trade Organization meeting in Geneva, John Deng noted that the disruptions to international supply chains and the commodity price hikes caused by Russia’s ongoing military campaign in Ukraine could potentially pale in comparison to the consequences of a Chinese attack on Taiwan.
The trade negotiator underscored the world’s reliance on Taiwan for high-tech chips used in the production of technologies such as electric vehicles, mobile phones and more.
“The disruption to international supply chains; disruption on the international economic order; and the chance to grow would be much, much [more]It is much more significant than that one. There would be a worldwide shortage of supply,”He said.
Taiwan currently exports most of the world’s advanced semiconductors, making over $118 billion in exports just last year, with 40% of those exports going to China.
Although Taipei’s government hasn’t reported an attack by China imminently, Taiwan has been alerted since the beginning of the war in Ukraine. Taiwan is concerned that Beijing might be inspired to take over what it regards as its territory.
China, for its part, said it preferred “peaceful reunification”It has also warned about Taiwan as a Chinese territory, although it regards Taiwanese province. “other options.”
Wei Fenghe (Chinese Defense Minister) warned against foreign interference in China’s China-Taiwan relationships. “split Taiwan from China,”Beijing will ”fight to the end, no matter the cost.”
In response to Wei’s warning, Taiwanese Premier Su Tseng-chang called for peaceful talks with China, stating that “Taiwan does not want to close the door to China.”But he maintained that Beijing had been using the information. “various means to oppress and treat Taiwan unreasonably”Taipei attempted to be a good neighbor towards China while doing so.
“As long as there is equality, reciprocity and no political preconditions, we are willing to engage in goodwill with China,”Su added that “as for China’s harassment of Taiwan with military aircraft, warships, unreasonable suppression and political actions, the one being most unreasonable is China.”
Geopolitical tensions in the region have recently flared up after President Joe Biden stated last month that the US would use its military to defend Taiwan if China invaded the island, walking back on America’s long-standing adherence to the ‘One China Policy’ – which recognizes but does not endorse Beijing’s sovereignty over Taiwan and rules out guarantees of a US military intervention in a China-Taiwan conflict.
Although Biden’s comments were later retracted by US State Secretary Antony Blinken, the Chinese government was nevertheless agitated by the statement. Beijing’s frustration has also been spurred by the Pentagon’s recent approval of a $120-million arms sale to Taipei, which Chinese Foreign Ministry spokesman Zhao Lijian said had “seriously violated the one-China principle.”
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