Trade war will affect all of Taiwan’s industries: TSMC CEO

C.C. Wei says digital era poses tremendous opportunity for Taiwan semiconductor industry

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C.C. Wei

C.C. Wei (By Central News Agency)

TAIPEI (Taiwan News) – C.C. Wei (魏哲家) CEO and Vice President of TSMC (台積電) said that the U.S.-China trade war will affect all of Taiwan’s industries, including semiconductors, on Nov. 27, reported CNA.

Wei suggested Taiwan’s semiconductor industry, the third largest in the world, faces challenges from the U.S.-China trade war, but the industry also has a substantial upside as the world enters a new digital era.

Wei spoke at the Taiwan Semiconductor Industry Association annual meeting, which brought together senior officials from business and government in Hsinchu.

Wei said that this year marks the 60th anniversary since the invention of integrated circuits, and that Taiwan leads the world in semiconductors.

Looking into the future, he suggested demand for new technologies and growth in other industries bodes well for Taiwan’s semiconductor sector in the upcoming digital era of artificial intelligence, Internet of Things, and 5G devices.

With the advent of the digital era, Wei described semiconductors as changing from being "ubiquitous" to "omnipotent."

Wei went on to say that Taiwan’s semiconductor industry faces a range of challenges, including the development of economic nationalism by some of the world’s largest economies. In the face of this challenge, Wei said that Taiwan’s semiconductor industry needs the right mix of hard work and wisdom to compete and capture new opportunities.

Wei reasons that the U.S.-China trade war will affect all industries, including semiconductors, because of the prominence of the electronics component in an incredibly wide array of products.

Moving away from international risks and speaking about Taiwan’s domestic semiconductor industry, Wei said that it faces a challenge in ensuring local talent stays in Taiwan amid increasing competition from Chinese companies hoping to lure Taiwanese experts to develop its industry.

Wei went on to say that Taiwan’s semiconductor industry needs the support of the government, because the industry is dependent on a robust supply of water and electricity. In this regard, the semiconductor industry is a key stakeholder of long-term government planning.