Future Chinese attack on Taiwan would spark global semiconductor crisis, Blinken warns

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A hypothetical attack on Taiwan by China would spark a global economic crisis, particularly if the manufacturing of crucial semiconductors is disrupted, U.S. Secretary of State Antony Blinken warned this week.

Speaking at Stanford University on Monday with former secretary of state Condoleezza Rice, Blinken said the risk of “enormous” economic suffering in the event of a military attack in the Taiwan Strait was immense, making the need for a peaceful resolution to tensions in the region more important.

“On semiconductors, if Taiwanese production were disrupted as a result of a crisis, you would have an economic crisis around the world,” Blinken said.

“So there’s a profound stake — not just for us, but for countries around the world — in preserving peace and stability when it comes to Taiwan and the straits, and to making sure that the differences that exist are resolved peacefully.”