{"id":34618,"date":"2023-05-04T17:45:12","date_gmt":"2023-05-04T17:45:12","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/top-us-spy-says\/"},"modified":"2023-05-04T17:53:15","modified_gmt":"2023-05-04T17:53:15","slug":"top-us-spy-says","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/top-us-spy-says\/","title":{"rendered":"Top US spy says Chinese invasion halting Taiwan chip production would be &#8216;enormous&#8217; global economic blow\u00a0"},"content":{"rendered":"<p>WASHINGTON (Reuters) &#8211;     A Chinese invasion of Taiwan could potentially halt production by the world&#8217;s largest advanced semiconductor chip maker, wiping out up to $1 trillion per year from the global economy per year in the first few years, the top U.S. intelligence official said on Thursday.<\/p>\n<p>U.S. Director of National Intelligence Avril Haines presented what she called a &#8220;general estimate&#8221; during testimony before the Senate Armed Services Committee.<\/p>\n<p>She noted that the advanced semiconductor chips produced by Taiwan Semiconductor Manufacturing Company Ltd (TSMC) are used in 90 percent of &#8220;almost every category of electronic device around the world.&#8221;<\/p>\n<p>If a Chinese invasion stopped TSMC from producing those chips, &#8220;it will have an enormous global financial impact that I think runs somewhere between $600 billion to $1 trillion on an annual basis for the first few years,&#8221; she said.<\/p>\n<p>&#8220;It will also have an impact on our (U.S.) GDP if there was such an invasion of Taiwan and that (TSMC&#8217;s production) was blocked,&#8221; Haines continued. &#8220;It would also have an impact, if they stopped making chips, on China&#8217;s economy.&#8221; <\/p>\n<p \/>\n<p> (Reporting by Jonathan Landay; editing by Jonathan Oatis)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/top-us-spy-says\/a-chip-is-pictured-at-the-taiwan-semiconductor-research-institute\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportTechnologyNews\/tagreuters.com2023binary_LYNXMPEJ430RJ-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ430RJ-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WASHINGTON (Reuters) &#8211; A Chinese invasion of Taiwan could potentially halt production by the world&#8217;s largest advanced semiconductor chip maker, wiping out up to $1 trillion per year from the global economy per year in the first few years, the top U.S. intelligence official said on Thursday. U.S. Director of National Intelligence Avril Haines presented [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":34619,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1220],"tags":[1223],"class_list":["post-34618","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-technology","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportTechnologyNews\/tagreuters.com2023binary_LYNXMPEJ430RJ-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=34618"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34618\/revisions"}],"predecessor-version":[{"id":34620,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34618\/revisions\/34620"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/34619"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=34618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=34618"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=34618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}