Taiwan’s VP debate features TSMC, Warren Buffett, and Taylor Swift

Candidates for Taiwan’s vice-president referred to TSMC and its plans for international expansion during a live televised debate on Monday.

Jaw Shaw-kong, the vice-presidential candidate for the Kuomintang (KMT), the island’s largest opposition party, claimed that Wall Street financiers were worried about a potential war over Taiwan.

“Because of the doubts of war in Taiwan, a lot of foreign companies don’t want to come,” Jaw said. He pointed to the example of Berkshire Hathaway chair Warren Buffett. The legendary investor bought a $4.1 billion stake in TSMC in November 2022, only to offload it six months later. Buffett has admitted that geopolitical tensions influenced his decision to sell his stake in TSMC.

Jaw argued that without foreign investment, Taiwan will not be able to improve in areas like AI, and companies like TSMC will be forced to adopt a “Taiwan plus one” approach, risking a “hollowing out” of the island’s economy. He blamed the situation on the Democratic Progressive Party (DPP), the party in power for the last eight years, for stoking tensions with Beijing.

The KMT’s candidate for vice-president also claimed that superstar Taylor Swift turned down an opportunity to perform in Taipei due to geopolitical risks. (Taiwan’s ministry for culture denied Jaw’s claim on Tuesday.)

Hsiao Bi-Khim, the DPP’s vice-presidential candidate, retorted that TSMC should not be “something that you use for political gains,” and that the company was increasing its investment in Taiwan. She also pointed to investment from foreign companies like Google,…