Dear Reader, I continue to be reminded about the potential for catastrophic supply chain disruptions caused by the auto industry's reliance on chips from Taiwan Semiconductor Manufacturing Company. Way too much of what TSMC supplies to the auto industry is single sourced. As Chris Miller points out in his highly praised, bestselling book, Chip Wars, about the fight for the world's most critical technology, much of the chipmaking capacity the auto industry relies on "is within easy range of PLA People's Liberation Army missiles ... Looking at the role of semiconductors in the Russia-Ukraine war, Chinese government analysts have publicly argued that if tensions between the U.S. and China intensify, 'we must seize TSMC'."
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