Taiwan Officials Refute Warren Buffet’s Concerns Over Country’s Safety

Following reports that Warren Buffett sold some of his shares in Taiwan’s Semiconductor Manufacturing Co. (TSMC) due to geopolitical concerns, a government official in Taiwan said on Monday that Taiwan would do more to reassure investors about the country’s safety and stability.

Geopolitical developments cannot be controlled, but the government will continue to help TSMC maintain its core competitiveness in Taiwan and create value in the global supply chain.

Minister Lin Chuan-neng

He expressed confidence that TSMC will continue to be a driving force in Taiwan’s technological advancement and promised to reassure the international community that the country is a secure and peaceful place to do business.

Last week at Berkshire Hathaway’s annual shareholders meeting, Buffett addressed the question of why he sold over US $4 billion in TSMC shares so quickly after purchasing them, a move that surprised many since Buffett is generally seen as a long-term investor.

Taiwan Semiconductor is one of the best managed companies and important companies in the world, and you’ll be able to say the same thing five, 10, or 20 years from now.

I don’t like its location and reevaluated that.

Warren Buffet

He called TSMC a “marvelous company” with “marvelous people” and the “best in the chip industry,” but he said that he’d like to locate a similar organization in the United States.

At the same time, government representatives were questioned about statements made by U.S. congressman Seth Moulton at the 2023 Global Conference in California, where he reportedly said that the United States should blow up TSMC if China attacked Taiwan.

“We should make it very clear to the Chinese that if you invade Taiwan, we will blow up TSMC,” Moulton warned.

Speakers at the event were Representative Michael McCaul and Associate Professor of International History at Tufts University Christopher Miller, who discussed strategies for dealing with strategic rivalry between the United States and China.

As a result of the enmity between the United States and China, businesses like TSMC have encountered roadblocks for purely political reasons. Such occurrences have the ability to halt progress within the business, therefore let’s keep our fingers crossed that things improve soon.

Source: FocusTaiwan