> There aren't really subsidies for TSMC here in Taiwan. Subsidies don't need to be direct cash handouts/tax deductions. I think the real advantage TSMC gets o

> There aren't really subsidies for TSMC here in Taiwan. Subsidies don't need to be direct cash handouts/tax deductions. I think the real advantage TSMC gets over its non-Asian competitors is government spending on infrastructure specifically for silicon fabrication. TSMC has guaranteed access to water, electricity and engineering talent from local universities on a resource constrained island. It's smart industrial policy that is the key behind the rise of a lot of Asian tigers, and something other countries should study as well - laissez faire is not always the optimal answer to innovation.