Geneva: Every Chinese military attack on Taiwan will have a greater impact on the flow of global trade than the Ukraine War, the Top Taipei trade negotiator said on Tuesday, said it would cause lack of semiconductor chips.
The Russian invasion of Ukraine in February has triggered an increase in commodity prices and prohibitions on food exports, which caused hunger fears in poor countries. John Deng said that, was China to attack Taiwan, the potential for disruption could be worse, quoting the world dependence on Taiwan for chips used in electric vehicles and cellphones.
“Disorders of the international supply chain; disturbances in the international economic order; and the opportunity to grow will be far, far more significant than this,” he told Reuters in an interview on the sidelines of the Minister of the Organization of the Main Main Trading Organization of the Minister of Meeting in Geneva.
“There will be a shortage of supply throughout the world.”
The Taipei government did not report signs of immediate attack from China but Taiwan had increased its warning level since the Ukraine War began, alert to Beijing’s intention.
The Chinese government says it wants to “be peaceful reunification” but reserves “other options” for Taiwan, which he regarded as a Chinese province, the view of the government that was democratically elected in Taipei was very at odds.
Taiwan dominated the global market for the most sophisticated chip production and exports worth $ 118 billion years ago, the data showed.
Deng said he hoped to reduce 40% of the exports that went to China.
The Russian invasion was the first time in the history of the 27 -year -old global trade supervisor that one WTO member had invaded another. The agency hopes to reach the agreement package, including food safety to ease a tense supply, but the tension produced by war can make that more difficult trading sources.
Taiwan, who has joined Western sanctions against Russia, participated in a festive applause for the Ukraine WTO delegation on Sunday.
WTO is one of the few multilateral organizations where China and Taiwan work side by side since Beijing blocked its participation in others.