Japan Times Via MLI: 'The sea lanes that connect the South China Sea to the East China Sea flow in and around Taiwan by some estimates are responsible for at least $5 trillion in imports and exports per year.
'They also represent the critical transport corridors for energy resources that fuel the second (China), third (Japan) and tenth (South Korea) largest economies on the planet. An incredible amount of trade and energy resources that flow through sea lanes is centered around Taiwan’s geographic location in the Indo-Pacific, which impacts global trade. As a result, the global community has an existential interest in ensuring that Taiwan and the cross-state region remains peaceful and stable.
'This means governance by international law. Second, the global community needs to consider where Taiwan fits within the global supply chains. Here, Taiwan plays a critical role in technology supply chains. The Taiwanese Semiconductor Manufacturing Company occupies a leading and dominant role in producing dual-use semiconductors that are found in iPhones and iPads, as well as Japanese, Korean and German vehicles and jet fighters. In short, Taiwan and the high-tech products that it produces are a global commodity that keeps our global economy moving. The island’s pivotal and irreplaceable position in trade in technology transforms Taiwan into a global public good with the world community having vested interests in its fate.
'This means that what happens to Taiwan is not just a matter between Taipei and Beijing. Rather, it is a global issue that has global stakeholders in mind. Recognizing Taiwan as a global public good does not mean deviating away from the “One China” policy. In fact, Japan, the U.S., the E.U., and mostly recently South Korea, have stressed that Taiwan is a critical concern for these stakeholders, and they support the status quo...'