Posted on 07/22/2022 4:43:39 PM PDT by FarCenter
Taiwan controls most of the world's chip manufacturing capacity, and that worries US Commerce Secretary Gina Raimondo.
Raimondo believes the US would go into a "deep and immediate recession" and face great security risks if it lost access to the island nation's chips
The Commerce Secretary made the warning in a Wednesday interview with CNBC as part of her plea for Congress to aid a major US semiconductor manufacturing expansion by passing the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act, which would unlock $52 billion in subsidies for new plants and research efforts.
"If you allow yourself to think about a scenario where the United States no longer had access to the chips currently being made in Taiwan, it's a scary scenario," Raimondo told CNBC. "It's a deep and immediate recession. It's an inability to protect ourselves by making military equipment. We need to make this in America."
The issue is that Taiwan has faced ongoing aggression from China, which claims the self-governing island nation as its own and has not ruled out using military force to "reunify" the two. This has sparked fears that China could invade Taiwan and seize its manufacturing plants, which are run by, among other chipmakers, three of the world's largest contract chip manufacturers - it hte fabs aren't deliberately destroyed first.
This scenario would spell big trouble for the US because Taiwan produces 90 percent of the leading-edge chips that are bought by the country, according to Raimondo.
She is likely referring to TSMC, which Reuters said controls 90 percent of global output for such chips, citing industry estimates. This includes chips designed by companies such as Apple, Nvidia, AMD, and Qualcomm, and they are used in everyday devices such as smartphones, PCs, and servers. And then there's the whole military kit issue.
(Excerpt) Read more at theregister.com ...
Absolutely the first and only coherent statement issued by the Biden Administration sine January 21, 2020. A threat as obvious as a goiter since the first rattlings of possible Chinese action against Taiwan.
Y’all remember 10-20 years ago when U.S. states and cities were giving billions in tax breaks, free land and seed money to chip manufacturers to build factories in their cities???
I guess that didn’t pan out for us any more than Solyndra and Rivian did later.
That sounded like a challenge.
We’ve had more important things like “gay marriage” on our minds for the last several decades.
Somebody better warn Raimondo that Joe is China’s lapdog and that anything China wants, China gets. Who do you think will be taking over Taiwan in the next couple years - of course the Biden administration will be “concerned” but won’t lift a military “finger”.
Would China shoot down 2nd in line Nancy over Taiwan? (If Joe was 25th’d)
I seriously don’t believe Nancy.
Too bad we can’t make them here.
What really broke our economy is the EPA and Eco-nuts. They chased off all the industry required to produce high tech because quite frankly it is dirty.
Like a nuclear power plant. it is not all that expensive to design and build, but the expense is the years of lawsuits and regulations, so we have no clean power or a place to place the waste.
Democrats are the USA’s problem. Lets be sure they suffer the most when SHTF. Don’t let them on the lifeboat when the ship goes down.
And the reason we can’t find a company in the U.S. to make a huge fortune making semiconductors here is?
I think she’s saying we should appease the ChiComs.
Maybe....Make America Great Again....????
Let’s see if I understand this correctly. Because we’re almost totally dependent on a foreign country for silicon chips we can subsidize the production of them in the US but we want to destroy our domestic energy production so we can be totally dependent on foreign countries for our oil and natural gas.
Thanks, free traitors.
Can’t we get Lay’s to make more?
While she mentions this, her party is busy destroying the
U. S. on the ground here. In ten years they’ll discover
that their past policies did us in.
Democrats don’t have the slightest clue how to keep the
United States strong and independent.
This Taiwan discovery of hers is such a great example of
how the Democrat’s mind works.
Screw things up to the point of no return, then feign
as if you give a damn.
Her party is only interested in being a good global
citizen, because there is no strategic danger out there
anymore.
One sick group of people.
This is one of many many examples of dangerous dependence on things from other countries.
America Last politicians and businesses, spurred by the poison desire for cheap labor, have sold out America.
Who knew there was an extra 52billion laying around to be “unlocked”?
——————-
Politicians, all the same. Legislating $52 Billion doesn’t make it so. Where are we going to get the workers? Where to get the know how? Where to get the commodities? How long to build manufacturing plants?
Silicon metals is the correct answer…guess what, the two worlds largest Silicon producers are …….drum roll…..1) China 2) Russia…..and Vlad ( and Xi) say Checkmate, again, and again…..something the Ukie war cheerleaders should have thought about.
Fact is Russia has just about everything the West needs, NG, oil, diesel, food, water, commodities, metals, grain, rare inert gas, etc….they don’t need McDonalds, KFC, Starbucks, Citibank, Visa or the USD.
You mean, one of Biden's Cabinet has at least a little bit of a brain?
That is probably why Nazi is going to Taiwan. Pauli and her newly acquired investments in chips.
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