MOSCOW – Over 40% of global trade will be disrupted in the event of a war in Taiwan, leading to devastating consequences for the whole world, Taiwan’s Foreign Minister Joseph Wu said.
“Most of the countries are sure that this (escalation) will not happen as it would be a disaster not only for Taiwan but for China and the entire world. Economic consequences would be massive. Look at Taiwan’s location – over 40% of goods delivered across the world are shipped through the (Taiwan) strait.
“Moreover, Taiwan produces over 60% of chips in the world and 90% of the most advanced semiconductors. A war in Taiwan would lead to disruptions of over 40% of global trade,” the official told Spanish newspaper ABC, reported Sputnik.
In the event of escalation around the island, a third world war could break out, Wu believes.
The situation around Taiwan has recently escalated once again after its President Tsai Ing-wen’s meeting with US House Speaker Kevin McCarthy earlier in April, with Beijing starting massive three-day military exercises near the island in what it called a “warning” for Taiwanese separatists and foreign powers.
Taiwan has been governed independently from mainland China since 1949. Beijing views the island as its province, while Taiwan – a territory with its own elected government – maintains that it is an autonomous country but stops short of declaring independence. Beijing opposes any official contact of foreign states with Taipei and considers Chinese sovereignty over the island indisputable. – Bernama, April 24, 2023
