On 2 August 2022, Nancy Pelosi, the 52nd Speaker of the United States House of Representatives, visited Taiwan late on Tuesday on a trip she said shows an unwavering American commitment to the Chinese-claimed self-ruled island, but China condemned the highest-level U.S. visit in 25 years as a threat to peace and stability in the Taiwan Strait. Pelosi said that discussions with Taiwanese leadership will focus on shared interests, including advancing a free and open Indo-Pacific. However, her arrival prompted a furious response from China when international tensions were already elevated by Russia’s invasion of Ukraine.
According to One China Policy, China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States warned China against using the visit as a pretext for military action against Taiwan. If China begins an assault on Taiwan, The consequences to Taiwan will occur whether boycotting from other nations or exporting potential goods referring to the electronic industry.
Moreover, This event has affected the global supply chain due to one of the biggest supply chains of China since Taiwan is one of the biggest Semiconductor producers in the world occupying a 63% market share which the trouble will be made over, not only in the electronic industry but also in other related industries. In addition, Among these pressure situations, China released the measure to halt the import of goods, increasing the import duty and other supply chain-related measures from Taiwan.
Impaction to Thailand
Nevertheless, On 8 August 2022, Mr.Sanan Angubolkul, the chairman of the board Thai Chamber of commerce and the trade of Thailand, mentioned that Thailand is being neutral which Thailand enables to turn this adversity into an opportunity to export substitute goods to China together with attracting capital from both China and Taiwan. It is an opportunity for Thai economic growth referring to trading activities.
Published 17/08/2022
By Ashley Jones
