Disruption of Taiwan's Semiconductor Production Would Lead to Economic Crisis - Blinken

WASHINGTON (Pakistan Point News / Sputnik - 18th October, 2022) A disruption to Taiwan's semiconductor production would lead to a global economic crisis, US Secretary of State Antony Blinken said on Monday.

"If Taiwanese production were disrupted as a result of a crisis, you would have an economic crisis around the world," Blinken said during remarks at the Hoover Institution in Stanford, California.

Blinken emphasized that the United States and countries around the world have a profound stake in preserving peace and stability in Taiwan and the Taiwan Strait.

The United States hopes that China does not try to force things in Taiwan through coercion, Blinken said.

US officials have previously warned that the situation concerning Taiwan, the sole source of advanced semiconductor microchips, represents a risk to US national security.

Earlier this year, US President Joe Biden signed an executive order to implement the $280 billion CHIPS and Science Act of 2022. The measure includes more than $52 billion in subsidies for US semiconductor manufacturers in an effort to counter China's growing technological clout.