U.S. Treasury Secretary Scott Bessent speaks on the sidelines of the IMF/World Bank annual meetings in Washington on Oct. 15, 2025. Ken Cedeno/Reuters
U.S. Treasury Secretary Scott Bessent warned on Jan. 20 that the world economy faces a single, outsized systemic vulnerability because advanced semiconductor production remains overwhelmingly concentrated in Taiwan, saying a blockade or destruction of the island’s manufacturing capacity could trigger an “economic apocalypse.”
“I would say that the single biggest threat to the world economy, the single biggest point of […] failure is that 97 percent of the high-end chips are made in Taiwan,” Bessent said during remarks at the World Economic Forum in Davos on Jan. 20. “If that island were blockaded, that capacity were destroyed, it would be an economic apocalypse.”We had a problem loading this article. Please enable javascript or use a different browser. If the issue persists, please visit our help center.
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