Taiwan's U.S. envoy rejects defeatism by Buffet, tech chiefs

FPI / May 11, 2023

Geostrategy-Direct

Berkshire Hathaway recently divested 86 percent of its more than $4 billion in the Taiwanese chipmaker TSMC.

Berkshire chairman and CEO Warren Buffeft told company shareholders the reason was ongoing geopolitical tensions over Taiwan.

TSMC “is a marvelous company,” Buffett said during Berkshire’s annual meeting, but “I would feel better about capital that we’ve got deployed in Japan than in Taiwan. … That’s the reality.”

Similar concerns were voiced by Intel CEO Patrick Gelsinger, who said critical components made by TSMC should have more diversified sources of supply.

TSMC makes more than 60 percent of the world’s advanced microchips used in myriad high-tech applications.

“Taiwan plays such a critical role for the technology supply chains, but it’s precarious,” Gelsinger said.

Taiwan’s unofficial ambassador to the United States brusquely rejected the defeatism of Buffet and Gelsinger, reiterating that, despite China’s threats, Taiwan should not be counted out.

Taiwan’s democracy is confronting both military and “gray zone” information warfare threats from China and is adopting asymmetric weapons to defend itself, Hsiao said in an interview with The Washington Times.

“Taiwan will continue to be one of the safest and most reliable places for business in the world,” Hsiao said in an interview at the 18-acre Twin Oaks estate in Northwest Washington, D.C., which once was used as an official Taiwanese residence.

“We have developed our technology, our prosperity in a way that we will remain an indispensable and irreplaceable component of global prosperity,” Hsiao said. “We are committed to maintaining the status quo, we are committed to prevent any disruptions of peace and stability in the region.”

In Taipei, Economic Affairs Vice Minister Lin Chuan-neng told a legislative hearing on May 8: “The government will do its utmost to let the world know that Taiwan is stable and safe.”

Two commanders of U.S. Indo-Pacific forces — current leader Adm. John Aquilino and his predecessor, Adm. Philip S. Davidson — warned in congressional testimony that China’s military is preparing for an operation against Taiwan by 2027.

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