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The Taiwan Strait is still pretty important.

TSMC was founded in 1987, I think there might just be other reasons the US may defend Taiwan which would justify the existence of the older original mutual defense treaty from 1955-1980 or the currently standing Taiwan relations act that replaced it in 1980.

I have to imagine the C-level employees at TSMC have an exit strategy involving private planes if that were to come to pass. At least I hope they do.

probably possible to check where families live and kids go to college (US vs Taiwan)

I get the feeling that might not even be needed. There's a pattern of those in power thinking they'll be kept in power even in trying times, patterns where they're wrong, but also where they are right.

China is hardly a fully closed society.