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Taiwan's strength in semiconductors could be its 'Achilles heel,' economist says
Taiwan's economy should plan to diversify away from semiconductors and encourage more industries to grow, an economist told CNBC.
Taiwan should plan to diversify its economy away from semiconductors, given the risk that China might develop the capacity to make its own chips, Paul Cavey, an economist at East Asia Econ, told CNBC. And so if you have a situation where China does develop the capacity to make semiconductors itself, the impact on Taiwan's economy is going to be very large," Cavey told CNBC's Emily Tan. Traditionally, China has been dependent on foreign firms such as Dutch lithography systems' manufacturer ASML for chip equipment, with Beijing lagging behind the U.S., South Korea and Taiwan in chip-related production.
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