All the world is talking about 'fabs,' which is Greek to us

JUST how backward and late in the game is the Philippines, supposedly the "rising tiger" of the Asian economy, on uber critical economic concerns about the present and the future? The straightforward answer is this: the dynamic economies across the globe are talking about "fabs." Fabs are front, back and center of their policy discussions and national planning — and funding priorities. Those still without fabs are planning and plotting their way to raise the money — and train the engineers and technical people — to build their own fabs. China has its moist eyes on Taiwan because Taiwan is the global leader on fabs.

The current true north of most global companies producing stuff for the 21st century is a low-profile, global heavyweight named TSMC, and it is based in Taiwan. The reason is that it has the most impressive, the most productive fabs in the world, and also without a true global competitor. Even with the military might and the political will, China will not probably bomb Taiwan to kingdom come because of TSMC. Because the destruction of TSMC will set back all manufacturing of smartphones, laptops, cars, armaments of war, planes, ships and most products important to mankind by at least half a century. China, the factory to the world, will have to idle most of its factories and assembly and manufacturing sites without the products of TSMC. Hence, the caution.