Source: Bloomberg (paywall)
Taiwan is financing industrial parks in the US—$2B to $4B per site, with Texas as the initial location—specifically to house TSMC, Nvidia, and Foxconn operations. State-backed entities are absorbing the financial risk of duplicating Taiwan's domestic ecosystem abroad rather than relying on market forces to attract tenants. This reverses the postwar model where capital followed production; now production follows capital deployment. The scale and permanence suggest this is not temporary offshoring but structural geographic diversification of Taiwan's core export economy, with deepening US-Taiwan economic integration serving as geopolitical insurance.