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China Has No Intention of Walking Away from Its Claims on Taiwan Xi Jinping has pledged to invest $1.4 trillion through 2025 in key technologies including semiconductors. Of course, another way of leveling the playing field would be to invade Taiwan. There is a global shortage of semiconductors or chips, which is being felt by the producers of everything from smartphones and electric vehicles (EVs) to washing machines and toasters. Although it is not obvious to see how the fate of the lowly toaster can have geopolitical consequences, the chip shortage is having an impact, especially as it ties into what is emerging as a new Cold War between the United States and China. Part of the reason for this is the role of Taiwan, home to one of the world’s leading chip-markers, Taiwan Semiconductor Manufacturing Company (TSMC). China regards the island as a breakaway province. For its part, most Taiwanese think of themselves as a separate nation, with a democratic and ma ....