This Week in Taiwan 1113-1119
November 14: According to media reports, military sources indicate competitive U.S. and Chinese fighter jet activity in the Pacific Ocean east of Taiwan for three days and three nights. Within three days, the United States dispatched more than 100 fighter sorties, and China dispatched more than 300. According to military personnel, the United States conducted "long-distance raid" training to test the capabilities of the People's Liberation Army (PLA). Taiwan monitored and oversaw the entire process.
November 14: President Joe Biden of the United States and Chinese President Xi Jinping held a historic meeting in Bali, Indonesia. Biden made it clear to Xi that the U.S. "One China" policy remains unchanged and opposes unilateral changes to the status quo in the Taiwan Strait by either side. Peace and stability in the Taiwan Strait is consistent with world interests. Xi emphasized that the Taiwan issue is the first insurmountable red line in U.S.-China relations. "Taiwan independence" is incompatible with peace and stability in the Taiwan Strait. The two heads of state agreed that the diplomatic teams of both sides will maintain strategic communication and carry out regular consultations. For this reason, U.S. Secretary of State Antony Blinken will visit mainland China to follow up on the conclusions of the bilateral talks.
November 15: As the United States tightens its grip on mainland China's chip industry, Berkshire Hathaway, headed by Warren Buffett, disclosed on November 14 that it had purchased at least $4.12 billion worth of Taiwan Semiconductor Manufacturing Company (TSMC) American depository receipts (ADRs) for the first-time last quarter, about 60.1 million shares, a rare large-scale investment in semiconductor stocks. Berkshire Hathaway is expected to become TSMC's fifth or sixth largest shareholder. The news encouraged TSMC's stock price to soar on November 15, closing at NT$480, up NT$35, with market capitalizing exceeding NT$12 trillion (about US$384 billion).
November 17: The Executive Yuan passed a draft Taiwanese version of the CHIPS Act. From 2023 at the earliest, companies with innovative technologies such as semiconductors, 5G, and electric vehicles which are key players in the global supply chain will receive tax breaks equivalent to 25 percent their research and development costs and 5 percent costs to purchase new machinery with advanced manufacturing capabilities. The bill will be sent to the Legislative Yuan for consideration. If it passes, major semiconductor manufacturers such as TSMC and MediaTek will be eligible.
November 17: According to regulations by the Central Epidemic Command Center (CECC), if an individual tests positive for the coronavirus (COVID-19) after November 22, then he will quarantine under the "5+N" regime and is unable to vote in the November 26 elections. In a press conference, the Taiwan Association for Human Rights and the Taiwan chapter of Amnesty International condemned the Central Election Commission for obstructing the people exercising their voting rights and suggested that measures should be taken to separate those who diagnosed with COVID-19 from the general public. The CECC responded that people diagnosed with COVID-19 need to be isolated and are not permitted to go out.
According to data from the Ministry of the Interior, more than 320,000 people have been unable to return to Taiwan and were removed from their household registration. It is estimated that about 280,000 people are unable to participate in the November 26 elections due to the pandemic. Taipei and New Taipei are the most impacted, with 130,000 voters impacted.
November 19: "Tuantuan," the giant panda at the Taipei Zoo, began to suffer from epilepsy in the middle and end of August. Its condition deteriorated on November 18 and November 19, and the veterinary team decided to use euthanasia. Tuantuan, which has accompanied Taiwanese for some 14 years passed away in anesthesia in the afternoon. The Mainland Affairs Council expressed sorrow and stated that "Tuantuan" is the result of mutual exchange and donation of rare animals under conservation across the Taiwan Strait and has helped bilateral exchanges. China's Taiwan Affairs Office, State Council, expressed sorrow and regret and thanked the Taipei Zoo for its efforts in treating Tuantuan.
November 19: The Economic Leaders Meeting of the 2022 Asia-Pacific Economic Cooperation (APEC) ended. Morris Chang, founder of TSMC who attended on behalf of President Tsai Ing-wen, stated that he exchanged greetings with Chinese President Xi Jinping on the morning of November 18. Chang also congratulated Xi on the success of the 20th National Party Congress. Xi praised Chang for his good health.
Chang also stated that he had a pleasant side meeting with Vice President Kamala Harris of the United States. Harris was particularly interested in chips, expressed her welcome to TSMC's establishing a plant in Arizona, and reaffirmed U.S. commitment to supporting Taiwan.
November 19: Professional basketball player Dwight Howard, who recently joined the Taoyuan Leopards of Taiwan's T1 League, debuted on stage, impressing some 15,000 fans. Howard scored 38 points, 25 rebounds, and 9 assists, leading the Taoyuan Leopards to overcome a 25-point deficit at home, defeating the New Taipei CTBC DEA team with 120:115 in overtime. It was the greatest scoring comeback in the T1 League's history.