Globalisation
As globalisation falters, countries building productive capacity, not financial excess, will prevail. An opinion piece argues that power is shifting from best pricing assets to building, supplying and sustaining under strain. History shows nations struggle to maintain influence when finance outpaces production.
Reported by AI
As the US pushes for manufacturing repatriation, Taiwan Semiconductor Manufacturing Company (TSMC) is grappling with unexpected challenges in building a massive chip factory in the desert north of Phoenix, Arizona. Unlike Taiwan's single-permit process, the US's complex regulatory maze requires the firm to create around 18,000 rules from scratch, costing US$35 million. TSMC chairman C.C. Wei says this is no longer just a business investment but an expensive social experiment in transplanting industrial culture.