Facing an energy crunch that could hamper its economic geopolitical security, Tsai should turn nuclear reactors back on. Luckily, many of them stand at the ready.
Taiwan packs a mighty economic punch. Its population numbers under 25 million, but it claims a spot close to the top 20 globally in GDP, and it continues to ascend the rankings ladder even as its neighbors slip into low-growth malaise. In fact, in 2021, Taiwan's economy grew at an astonishing 6%.
The country’s economic heft is exemplified by Taiwan Semiconductor Manufacturing Co, Ltd. (TSMC), which consistently ranks near the top 10 among all global companies by market capitalization. Last year was yet another banner year for the firm. As shifts in consumer behavior precipitated by the coronavirus carried over from 2020, demand for TSMC’s chips climbed higher than ever, with the company hauling in 24% more revenue in 2021 than in the year prior.
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Jordan McGillis is a Paulson Policy Analyst at the Manhattan Institute.
This piece originally appeared in Breakthrough Journal