TSMC CEO Says Export Controls Weaken Trust Among Countries
- Productivity also hurt by export controls, C.C. Wei warns
- Allies to join US in limiting China’s access to technologies
This article is for subscribers only.
Taiwan Semiconductor Manufacturing Co. Chief Executive Officer C.C. Wei warned of the dangers of excessive government export controls, which can erode mutual trust between countries.
“Export controls and banning products from other foreign countries destroy productivity and efficiency gained under globalization, or at least they reduce benefits offered by a free market,” Wei said at an industry event in Taipei on Saturday. “But the scariest thing is that mutual trust and cooperation among countries is beginning to weaken,” he added, saying that a distorted market leads to higher costs as he urged politicians to come up with an alternative solution.