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Scott Bessent: The single biggest threat to the world economy is that 97% of advanced chips are made in Taiwan

T

tonyget

Well-known member
US Treasury Secretary Scott Bessent identified Taiwan's overwhelming control of advanced semiconductor production as the gravest danger facing the global economy, warning Tuesday that any disruption would trigger catastrophic consequences.

"I would say that the single biggest threat to the world economy, the single biggest point of single failure, is that 97% of the high-end chips are made in Taiwan," Bessent told the World Economic Forum in Davos, Switzerland.

He described a potential blockade or destruction of the island's manufacturing capacity as an "economic apocalypse," emphasizing Washington's efforts to relocate semiconductor production to American soil.

www.aa.com.tr

Taiwan chip dominance 'biggest threat to world economy,' says US Treasury chief

Scott Bessent warns semiconductor concentration creates apocalyptic risk, announces plans for critical minerals alliance - Anadolu Ajansı
www.aa.com.tr www.aa.com.tr
 
We got Trump taking out country leadership and looking to take over another.

Seems Xi is within his rights to take over the rouge Island and have control over the world’s silicon to negotiate some terms
 
tonyget said:
US Treasury Secretary Scott Bessent identified Taiwan's overwhelming control of advanced semiconductor production as the gravest danger facing the global economy, warning Tuesday that any disruption would trigger catastrophic consequences.

"I would say that the single biggest threat to the world economy, the single biggest point of single failure, is that 97% of the high-end chips are made in Taiwan," Bessent told the World Economic Forum in Davos, Switzerland.

He described a potential blockade or destruction of the island's manufacturing capacity as an "economic apocalypse," emphasizing Washington's efforts to relocate semiconductor production to American soil.

www.aa.com.tr

Taiwan chip dominance 'biggest threat to world economy,' says US Treasury chief

Scott Bessent warns semiconductor concentration creates apocalyptic risk, announces plans for critical minerals alliance - Anadolu Ajansı
www.aa.com.tr www.aa.com.tr
Click to expand...
Weird. I thought the greatest threat to the world economy was conceited politicians shutting down global production because they thought it would stop the spread of a virus. It only took about five years for supply chains to recover to about 87% of pre Covid efficiency. But what do I know, I'm not a narcissistic blowhard.
 
soAsian said:
Nah, either buy or use force to take Taiwan like Greenland?
Click to expand...
In Trump speech in Davos - "After WWII, US President was stupid to give Greenland back to Denmark, which surrendered in 6 hours." What do you think that statement imply for? During WWII, US spent tremendous amount of Blood and Treasure in both Europe and Pacific. Otherwise European maybe speak German and Chinese speak Japanese today. And maybe there will be a Jap-Dynasty in China history, like Yuan and Qing? What's the difference between Greenland and Formosa during WWII? Germany did not own Greenland, but Formosa was Imperial Japan's territory.

Recently, State Department and AIT emphasized "Theory of the Undetermined Status of Taiwan".
The argument posits that while the Treaty of San Francisco formalized Japan's relinquishment of Taiwan, it created a 'legal vacuum' by failing to designate a recipient state, thereby leaving the island's sovereignty unsettled."

Is It coincidental?
 
ai268 said:
Recently, State Department and AIT emphasized "Theory of the Undetermined Status of Taiwan".
The argument posits that while the Treaty of San Francisco formalized Japan's relinquishment of Taiwan, it created a 'legal vacuum' by failing to designate a recipient state, thereby leaving the island's sovereignty unsettled."

Is It coincidental?
Click to expand...

No, obviously they are preparing to wash off their hands. And I feel very much that Trump is trying to pull Munich on Taiwan in some secret talks now.

To consider, there is a credible claim that Biden pulled some secret deal on Ukraine with Russians on November 3 2021, during William Burns visit to Moscow, and only later his hand was forced to offer meager support due to popular pressure, and the whole "Munichness" of the situation becoming too embarrassingly obvious.
 

China Tells Alibaba, Tech Firms to Prep Nvidia H200 Orders​


(Bloomberg) — Chinese officials have told the country’s largest tech firms including Alibaba Group Holding Ltd. (BABA) they can prepare orders for Nvidia Corp.’s H200 AI chips, suggesting Beijing is close to formally approving imports of components essential to running artificial intelligence.

Regulators have recently granted in-principle approval for Alibaba (BABA), Tencent Holdings Ltd. (TCEHY) and ByteDance Ltd. to move to the next stage of preparations for purchases, people familiar with the matter said. The companies are now cleared to discuss specifics such as the amounts they would require, the people said, asking to remain unidentified discussing private talks. Beijing will encourage companies to buy a certain amount of domestic chips as a condition for approval, according to the people, though no exact number has been set.

Nvidia shares rose as much as 2.3% in premarket trading, while the American depositary receipts of Taiwan Semiconductor Manufacturing Co. gained 1.3%.

The discussions signals Beijing is moving ahead with plans to approve shipments of the H200 — a last-generation semiconductor that’s been thrust into the heart of sensitive US-China trade negotiations. It shows the government is prioritizing the needs of the major Chinese hyperscalers from Alibaba to Tencent, which are spending billions of dollars to build the data centers they need to develop and operate AI services.

That would mark a major win for Nvidia, which has angled to resume business with the world’s largest semiconductor arena. Chief Executive Officer Jensen Huang has said that the AI chip segment alone could generate $50 billion in the coming years. In its absence, local rivals such as Huawei Technologies Co. and Cambricon Technologies Corp. have thrived and plan to sharply increase production.

Beijing’s guidance to its largest tech firms runs counter to reports in recent weeks that the government was blocking H200 shipments. Last week, the Financial Times reported suppliers of parts for the chip had paused production. Representatives for Nvidia declined to comment, while the Commerce Ministry didn’t respond to a faxed request for comment. Alibaba, Tencent and ByteDance representatives did not respond to requests for comment.

The H200 is an older-generation chip that the Trump administration has said can be exported to China, even as it restricts sales of leading-edge components on national security grounds. Nvidia is the leading maker of artificial intelligence accelerators — the chips that help develop and run AI models — which are highly prized by the world’s data center operators.

 
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