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Fear and resignation after ‘world’s most powerful company’ pays Trump a $100 billion ‘protection fee’
It was a surprise ceremony at the White House presided over by President Donald Trump to unveil a $100 billion investment from what he called the world’s most powerful company, Taiwan Semiconductor Manufacturing Company (TSMC).
To reassure the public, Taiwan President Lai Ching-te appeared alongside TSMC CEO CC Wei last week at Taipei’s presidential office, saying the company’s US investment would not undermine its commitment to and planned expansion in its home base. Whether China takes military action against Taiwan is ultimately driven by its core interests, which are not solely dependent on the island’s role in global chip production, said Min-yen Chiang, a nonresident fellow at the Research Institute for Democracy, Society, and Emerging Technology, a government-funded think tank in Taipei. Standing next to him, Wei attributed the increased investment to “strong demand” from American customers such as Apple, Nvidia, AMD, Qualcomm and Broadcom that wanted to reduce potential supply chain risks by having chips made locally.
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