Wrt. "obvious": The reason why TSMC is the global leader in chip manufactoring is not because of cheap labour. It is because of specialisation and that they are

Wrt. "obvious": The reason why TSMC is the global leader in chip manufactoring is not because of cheap labour. It is because of specialisation and that they are the best at what they do. The combination of global trade and massive specialisation, creates this situation where no country can make everything on their own. And insisting in doing so will only result in poorer products at higher prices with lots of wasted capital.