Sen. JD Vance, R-Ohio, said Wednesday on "Fox & Friends" that the U.S. could see another Great Depression if China invades and takes control of Taiwan. Vance said the American economy is vulnerable because of its reliance on computer chips made in Taiwan and urged the Biden administration to ramp up domestic manufacturing of military hardware.
CHINA-US CHIP BATTLE HEATS UP AS BEIJING PREPARES TO SPEND $143B TO BOOST MANUFACTURING: REPORT
JD VANCE: The short-term cure is for Joe Biden to get serious about this and to actually make it so that if, God forbid, the Chinese invade Taiwan in three or four years, we produce enough weapons to be able to help them out. This is really important for Americans to understand: the Taiwanese control the American information technology industry because we allowed them to manufacture all of our computer chips. If the Taiwanese fall to China, it will cause a Great Depression in this country. We have to prevent that from happening. But to prevent it, we have to be self-sufficient and we have to make our own weapons.
As the United States works to ramp up semiconductor production domestically, lawmakers are also heading overseas to work with allies abroad.
"In today's interconnected world, we cannot wall ourselves off from shared problems. We are stronger and better when we work together," President Biden said on a trip to Mexico City earlier this year. "We’re working to strengthen our cooperation on supply chains and critical minerals so we can continue to accelerate in our efforts to build the technologies of tomorrow right here in North America."
Biden met with Mexican President Manuel Lopez Obrador and Canadian Prime Minister Justin Trudeau at the North American Leaders’ Summit in January. They discussed a variety of issues, including ramping up semiconductor production throughout North America.
