Re: Pelosi made a terrible miscalculation — Aug. 5
I was surprised by the editorial stating it was unwise for U.S. House Speaker Nancy Pelosi to visit Taiwan earlier this month. However, China’s response to her trip was likely something China was already planning to do and Pelosi’s presence was a good excuse.
The Chinese government clamped down on Hong Kong autonomy in 2020 without any western provocation. China has been working for years toward annexing Taiwan. American movies have long censored references to Taiwan in order to be shown in China. Nicaragua stopped recognizing Taiwan independence in 2021 in order to get access to Chinese COVID-19 vaccines.
Several high-ranking military officials believe China will attempt to invade Taiwan by 2030. This knowledge should prompt Canada to prepare by diversifying its supply chain so that it is not dependent on a single country for any product, thus preventing the ability of any country to blackmail Canada. Most microchips are made in Taiwan by TSMC so that’s an obvious opportunity. The recently passed US CHIPS Act is not sufficient.
Without incentives the private sector will not work to make supply chains more resilient. The stock market does not incentivize long-term planning.
