Former Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) chairman Morris Chang (張忠謀) yesterday said that he is upbeat about developments in the semiconductor industry and expects the sector to grow quicker than global GDP over the next decade.
Chang made the forecast in a speech at a luncheon hosted by the European Chamber of Commerce Taiwan, his first public appearance since retiring on June 5.
The semiconductor is almost as essential as bread and potatoes, and the industry would grow fairly fast, Chang said.
He said he predicts that over the next decade, global GDP would grow at an average of about 3 percent per annum, while growth in the semiconductor sector would reach 5 percent.
He hopes that TSMC, the world’s largest contract chipmaker, maintains its competitiveness and grows at more than 5 percent annually, Chang added.
When asked if China’s semiconductor industry would surpass that of Taiwan, Chang said that the industry in China would likely make great strides in the next five to 10 years, but TSMC would also continue to develop.
As a result, the gap between the two is unlikely to be bridged in the short term, he said, adding that TSMC would retain a lead of five to seven years in technology development.
However, the environment in Taiwan is not conducive to innovation, Chang said.
Taiwan’s culture and the way people live and do things are all factors that hinder innovation, and “innovation means change,” Chang said, adding that he expects such things to change over the coming decades.
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