Opinion: A Taiwanese chipmaker is the world’s most important company – and it faces a high-wire balancing act

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A Taiwanese chipmaker is the world’s most important company – and it faces a high-wire balancing act

its own dependence on Taiwanese chips by increasing federal support for U.S. semiconductor producers through the 2022 CHIPS and Science Act, that will not resolve the issue entirely. TSMC will still make the most advanced chips for the foreseeable future, and much of the supply chain will remain in Taiwan. U.S. policy-makers therefore must be prudent when it comes to export controls.

As geopolitical tensions rise, maintaining deterrence in the Taiwan Strait is more important than ever. Mr. Xi has made clear that he is serious aboutTaiwan with mainland China – by force, if necessary. As the U.S. and Taiwan head into presidential election cycles, politicians may feel increased domestic pressure to act provocatively.

That said, TSMC’s goal remains the same: to maintain its status as the unrivalled industry leader. To do so, it will have to play a smart long game. That means making necessary sacrifices in its Chinese business, pacing itself with new investments and diversification overseas, and ultimately keeping its most advanced chips in Taiwan.

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