If China were to gain control of Taiwan's semiconductor plant, the market and security outcomes would be 'devastating,' Rep. Mike McCaul says from the Milken Institute Conference.
Rep. Mike McCaul, R-Texas, discusses the necessary military and economic deterrence needed to prevent communist China dominance., Texas Congressman Mike McCaul clarified what could make our adversary "the No. 1" world superpower.FOX Business’ Maria Bartiromo
at the Milken Institute Global Conference. "The crown jewel here is TSMC – 90% of the world's advanced semiconductor chips are made on that island, making the entire world vulnerable, particularly the United States. It would make communist China the dominating power in the planet." If China were to take formal military action and attempt to acquire Taiwan, McCaul warned the world’s primary microchip supplier could abruptly close and allow communist China to take over that market.
"They would own the market. We could build advanced weapons systems, your phones, your automobiles, everything has a little brain in it called the semiconductor chip," McCaul explained, but "from a technology standpoint, it'd be devastating."
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