Taiwan and the United States can form a "dream team" to cooperate in areas such as semiconductors, electric vehicles, and next-generation communications, and contribute to the progress of the global economy, Taiwanese news agency CNA reported on Wednesday, citing Economy Minister Wang Mei-hua
MOSCOW (Pakistan Point News / Sputnik - 12th October, 2022) Taiwan and the United States can form a "dream team" to cooperate in areas such as semiconductors, electric vehicles, and next-generation communications, and contribute to the progress of the global economy, Taiwanese news agency CNA reported on Wednesday, citing Economy Minister Wang Mei-hua.
Wang is on a visit to the US from October 9-16. On Thursday, she is scheduled to attend a meeting with members of the Technology, Trade, and Investment Collaboration Framework (TTIC). This will be its first meeting since the establishment of the mechanism in December 2021 to develop Taiwanese-US commercial programs and strengthen supply chains for key technologies.
The world is constantly facing chip supply problems, inflation, and other challenges, all in the context of the COVID-19 epidemic and the Russian-Ukrainian conflict, Wang said, adding that Taipei and Washington should play an important role in the global supply chain as well as strengthen their cooperation in other areas.
Taiwan's developments in information and communication technology can help US electric vehicle producers to develop control systems and LCD screens, Wang added.
In addition, Taiwan's next-generation communications technology allows US telecommunication and cloud service providers to expand their business opportunities, Wang noted.
In 2021, the US acknowledged the country's significant reliance on Taiwanese semiconductor manufacturer TSMC. According to Capital Economics, TSMC produces more than 90% of the world's most advanced microchips. Major US tech corporations, including Apple, Intel, NVIDIA, Qualcomm, AMD, and Broadcom, buy microchips from TSMC, while the US government depends on Taiwanese microchips for some of its most important and complex systems, including weapons. According to experts, Washington's current policy towards the island carries significant risks if the situation develops into an armed conflict, as it could affect the production of the semiconductors Taiwan supplies to the US.
