How the China-Taiwan conflict could be devastating for the global economy | Business Beyond
May 26, 2023
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21:36Now PlayingHow the China-Taiwan conflict could be devastating for the global economy | Business Beyond
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as posted by the channelFor almost 75 years, the People's Republic of China and the island of Taiwan have co-existed in a state of tense limbo. China claims the island as part of its territory. But Taiwan is a functioning democracy and most people there want it to stay that way.
Cross-strait tensions have increased dramatically in recent years. The US, Taiwan's key strategic partner, says China wants to be ready to invade by 2027. Chinese President Xi Jinping has not ruled out the use of force.
Taiwan matters hugely to the global economy because of its complete dominance in the production of semiconductors. A Chinese blockade or invasion of Taiwan would shatter that all-important sector and as a result would wreak havoc on the economies of China, Taiwan and the wider world.
In this video, we look in detail at what is the most urgent threat to the global economy - and ask if anything can be done to avert catastrophe.
#china #taiwan #globaleconomy
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