JAKARTA - China's invasion of Taiwan could stop production of the world's largest semiconductor chipmaker, which could remove up to $1 trillion per year from the global economy in the first few years. This was said by the top US intelligence official on Thursday, May 4.
US Director of National Intelligence, Avril Haines, delivered what he called "general estimate" during his testimony before the Senate Armed Services Committee.
He noted that advanced semiconductor chips manufactured by Taiwan Semiconductor Manufacturing Company Ltd (TSMC) are used in 90 percent of "almost every category of electronic devices around the world".
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"If the Chinese invasion stops TSMC in producing the chip, it will have a huge global financial impact that I think ranges from 600 billion to 1 trillion US dollars on an annual basis in the first few years," Haines said.
"It will also have an impact on US GDP if there is an invasion of Taiwan and TSMC production is stopped," added Haines. "If they stop making chips, it will also have an impact on China's economy."
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