U.S. Treasury Secretary Scott Bessent has made a serious statement regarding global economic security, indicating that the current situation in the semiconductor industry poses a great risk to the world. According to him, the concentration of a large portion of modern and advanced chip production in one location creates vulnerability for the global system.
The editorial, citing its source, reports that Scott Bessent emphasized that approximately 97% of the advanced chips produced globally are currently manufactured in Taiwan. He noted that any form of blockade of this island or disruption of its production chain could lead to consequences for the global economy at the level of an "economic apocalypse.".
According to the Secretary's statement, semiconductors form the basis of almost all key sectors, from the automotive industry to the defense sector, from artificial intelligence to consumer electronics. Therefore, a halt in production in Taiwan could shake not only the technology market but also global trade and financial stability.
In his speech, Scott Bessent urged governments and international companies to take urgent steps towards diversifying production, creating alternative supply chains, and mitigating strategic risks. In his opinion, such a concentrated production model is unacceptable for long-term global economic security.