Taiwan has an excellent economy because they have a high trade surplus, high labor force, low inflation, low unemployment and a low debt to GDP. They are the world-class computer chip manufacturer.
Nominal GDP
$185.2B, Per Capita GDP $33,059, Population 12.42 million (urban 80%), Debt to
GDP 22%,
Inflation 2021-2024 7.36%, Unemployment 3.48%, Trade Surplus $86 billion, Labor force 11.94M,
In 2023, the most exported products from Taiwan were parts of electronic products, amounting to over $178 billion U.S. dollars. In the same year, Taiwan exported chemicals with a value of about $18.4 billion U.S. dollars.
In 2023, the most imported products to Taiwan were parts of electronic products, amounting to more than $81 billion U.S. dollars. In the same year, Taiwan imported mineral products with a value of about $61.6 billion U.S. dollars.
Taiwan is being threatened by China with a take-over. The problem is that Taiwan is a major supplier of advanced microchips and their expertise is not easily replaced. It might be wise for China to delay their plan to take over Taiwan.
Intel is building plants in the US. EVs are not selling well in the US and they require lots of microchips. If the EV push ends in the US, it will change the mix of microchip requirements.
If Trump is elected in November 2024, he will end the EV mandates and federal subsidies. Trump will work to return manufacturing to the US.
Taiwan Semiconductor was started in 1974 with its foundry operations and became well known in 1987. By 2009, it became the top global semiconductor manufacturing company. It is a priceless “unicorn”, because its employees are the best at producing computer chips.
China buys 40% of its computer chips from Taiwan. They would need to hold off invading Taiwan to prevent a disruption that causes a chip shortage. Timing is everything.
Norb Leahy, Dunwoody GA Tea Party Leader
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