The Davos World Economic Forum will be held on the 16th, and it is expected to debate around related geoeconomic risks.

(European News Agency)

New economic priorities will be drawn up

[Compilation of Wei Guojin/Comprehensive Report] Bloomberg reported that in the context of the ongoing hot war in Europe and the escalation of the Cold War between the United States and China, the world is facing pressure to choose sides. As political leaders strive to avoid shortages of key materials ranging from natural gas to semiconductors, there is also In formulating new economic priorities, the World Economic Forum in Davos, which will be held on the 16th, is expected to discuss geo-economic risks. Among them, Taiwan, chips and energy are the three most worrying hot issues this year.

The report pointed out that the leaders of the United States and Europe are worried that Taiwan will become the next front in the new cold war, and the cold war may turn into a hot war.

Although the Pentagon said there was no sign of an imminent Chinese attack on Taiwan, it is expected to become more provocative in its actions against Taiwan.

U.S. President Joe Biden has promised to send troops to defend Taiwan if China invades.

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In addition to the crisis of direct conflict between the two powers, there is also an economic confrontation: Taiwan is not only the home of TSMC, the world's leading wafer foundry, but also crucial to all types of global supply chains. China's blockade of Taiwan will trigger a huge domino effect.

Adams, chief executive of the Institute of International Finance (IIF), said, "China's actions against Taiwan and the possible response of the West are emergencies planned by everyone; every company is deliberating what the relevant sanctions will be? And who will ally with the United States."

The report pointed out that semiconductors are key components in everything from electric vehicles and ballistic missiles to new artificial intelligence technologies, and have gradually evolved into one of the most important battlefields of the global economy.

In the past year, the Biden administration has resorted to measures such as export controls to prevent China from purchasing or manufacturing the most advanced chips, and launched a $52 billion subsidy program for the local chip industry to bring chip manufacturing capabilities back to the United States.

The U.S. claims its controls are aimed at military applications in China, but Beijing accuses them of being part of a broader U.S. effort to curb China's economic progress.

For the controls to work, American allies must participate, and the Netherlands and Japan have agreed to join the United States.

能源是美歐與俄國經濟戰的核心，雙方意圖將能源武器化。俄國拒絕出售石油給任何參與價格限制的國家，美國與七大工業國集團（G7）試圖實施該限制，即俄油價格上限為每桶六十美元，此舉使俄油出口遠低於該價格門檻，可能擠壓俄國為戰爭提供資金的能力。

不過，俄油仍有買家，尤其是印度、中國與土耳其；如果俄國完全停止供油，去年油價飆漲、推升各國通膨的景況可能重演，而俄國關閉天然氣管線也造成全球供應重大短缺，今年有可能再度看到各國爭奪液態天然氣的局面。

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