TSMC navigates stormy seas of Sino-US Cold War
Never have the figures looked so good for Taiwan Semiconductor Manufacturing Company (TSMC). It has just reported net profits of NT$280.87 billion for the third quarter of this year, a 79.7 per cent increase from the same period in 2021.
It dominates the global semiconductor industry as the world's largest contract chipmaker. Taiwan accounts for 20 per cent of global wafer fabrication and an extraordinary 92 per cent of the most advanced chips.
But TSMC is trapped in the middle of a worsening technology Cold War between China and the United States, its two largest customers. China accounted for 17 per cent of its revenues in 2020, 10 per cent in 2021 and 8 per cent in the third quarter of this year. ...