Really good question. I don't know. What I would do if I were leading TSMC is create a wholly owned subsidiary which held all of the non-Chinese assets and hea

Really good question. I don't know. What I would do if I were leading TSMC is create a wholly owned subsidiary which held all of the non-Chinese assets and headquarter it in a tax neutral country like the Netherlands. Let's call it TSMC International. Then in the event of an assimilation by China, sell all of the assets that TSMC the parent company owns, to TSMC-i for $1 or something. And in fact have the paper work at the TSMC-i headquarters all filled out just waiting for being dated and executed by TSMC-i executives. It is a variation on a poison pill defense.