Semiconductors, or microchips, are tiny pieces of technology that power everything from microwaves to military weapons. The industry is worth more than $580bn (£466bn), but even that figure belies their importance to the global economy. Their existence powers several trillion dollars’ worth of goods and processes; without them the global economy would shudder to a halt.
It’s therefore a source of concern to many that over 90% of the world’s semiconductors are made in the place many US officials think could be the site of the next global conflict: Taiwan. If China were to annex Taiwan – which US officials believe could be attempted in the next decade – it, like the rest of the world, would find its supply of semiconductors massively disrupted.
