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Re the first point: Why do you think it is so difficult to transfer chip production off Taiwan?

I don’t think this is about salaries. Nor is this about facilities.

This is about process know-how. And it’s currently not available outside of Taiwan. I’m glad we’re finally starting to transfer knowledge. It will take a couple more years.



How do we know there is knowledge transfer?

If I were Taiwan/TSMC, I would protect my trade secrets as if my life depended on it (which may actually be true).


We don’t. We expect some, but you’re right it won’t be transferred easily.




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