House Foreign Affairs Chairman Michael McCaul is warning of dire economic consequences for the entire world if China invades Taiwan.
TAIPEI, TAIWAN – A Chinese invasion of Taiwan could have catastrophic consequences for the global economy, including in the United States, warned House Foreign Affairs Chairman Michael McCaul, R-Texas. 'The thing that really, I think, makes this island extremely important…is that 90% of the advanced manufacturing for the world happens right here.
It also comes after China staged some of its most aggressive military drills yet off Taiwan’s coast, sending dozens of warships and planes into the island’s territory in retaliation for comments by its new leader, President Lai Ching-tse, expressing support for its independence from Beijing’s ruling Chinese Communist Party .
And again, the 90% number – really, it’s hard to fathom that. It’s why we want to move more manufacturing back to the United States, but that’s going to take time, and I don’t know what timeline is on,' McCaul said. He referenced Xi’s past comments alluding to a potential invasion of Taiwan by 2027.
They’re very happy, and we’re very pleased we got our emergency supplemental done in time to give them the good news that we are supporting them from a military equipment standpoint,' McCaul said. 'I gave them some updates on the weapons and some other things we’re doing to help them, but they just wanted me to know that the threat was getting very intense from Chairman Xi.
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