The Taiwan Semiconductor Manufacturing Company (TSMC) is the world’s largest manufacturer of semiconductors and a critical supplier of the cutting-edge chips needed to produce everything from cars and computers to medical equipment and other modern electronics (Time, SIA). As geographic specialization of semiconductor manufacturing has increased, the manufacture of critical components has become increasingly concentrated in certain regions. As a result, the semiconductor supply chain is significantly more vulnerable to disruption (Reuters). The prospect of disruption in Taiwan is especially concerning because Taiwan is home to 92% of the world’s most advanced semiconductor manufacturing capacity (Semiconductor Industry Association). Recent research has shown that even a short-term disruption at a Taiwan fabrication facility could have a long-lasting impact on the supply chain (HBR). Natural disasters and geopolitical tensions have the potential to disrupt TSMC’s production (Ars Techinca, PC Gamer). 

Issued on 04/24/23 02:52pm
If riots or protests cause a shutdown at a TSMC fab, that would be considered "a non-scheduled emergency" and the question would resolve "Yes" if the shutdown lasts more than 24 hours.