Taiwan today got struck by a powerful earthquake, registering 7.4 on the Richter scale, with its center near the east coast, close to Hualien City. This was the most powerful earthquake to hit the region since a 7.7 magnitude quake in 1999. The event triggered tsunami warnings across Taiwan, Japan, and the Philippines, and was followed by a strong 6.5 magnitude aftershock just 13 minutes later. Reports quickly surfaced of at least 26 buildings collapsing, predominantly in Hualien County, and over 91,000 homes being left without electricity. The quake was even felt in Taipei, causing noticeable shaking in the city's towering Taipei 101 skyscraper.
The repercussions of this natural disaster stretch far beyond the immediate danger and destruction caused in Taiwan. They extend to the potential for significant disruptions within the global technology supply chain, particularly concerning the production of semiconductor chips. Taiwan is a critical hub for this industry, home to giants like the Taiwan Semiconductor Manufacturing Company (TSMC) and United Microelectronics Corporation (UMC). Both companies had to evacuate some of their facilities as a safety measure, interrupting their operations. While this is a common practice in such situations, it brings to light the real risk of halting chip production. Since these companies play a pivotal role in supplying the world with semiconductor chips, any delay in their production has the potential to influence the availability and cost of electronic components and gadgets worldwide.
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