President Tsai Ing-wen (蔡英文) has been visiting machine tool companies, textile makers and pharmaceutical developers to thank them for helping in the nation’s all-out effort against the COVID-19 pandemic.
Tsai on Wednesday visited SCI Pharmtech, which has donated hydroxychloroquine to help treat mild cases of COVID-19. Some scientists have said that there is limited evidence that the drug might be effective against the disease, creating a worldwide demand for it, and Tsai’s visit was also aimed at reassuring the public that Taiwan is able to build sufficient stock of the drug for the domestic market.
Since COVID-19 broke out, the government has been determined to ensure that important medical devices and materials can be domestically produced, and, most importantly, secure sufficient stocks. Many nations that did not act so expeditiously have found themselves without adequate supplies as demand escalates.
Taiwan is able to produce hospital-grade masks and plastic protective gowns with P3 particulate filters, and the government aims to coordinate and organize local firms to develop rapid screening kits, experimental anti-coronavirus drugs and mechanical ventilators. All goods related to epidemic prevention are strategic supplies and Taiwan should try to have as little reliance on other nations as possible.
Since Taiwan has maintained the development momentum of the manufacturing industry while retaining talent and necessary technology, the related supply chains have been able to respond quickly to emergencies, ramping up production quickly, and eventually helping to build a strong health safety net for the public and frontline medical staff.
Fortunately, Taiwanese manufacturers have also taken the opportunity to explore new businesses, such as textile firms turning to production of medical-grade fabrics from sports and leisure products.
For decades, Taiwanese manufacturers have established operations around the globe, developing a worldwide network of production sites and flexible business strategy, although some have kept their roots in Taiwan despite changing economic conditions.
The US-China trade dispute over the past two years prompted some Taiwanese manufacturers to start shifting part of their production from China, because of the threat of US tariffs, but the pace of breaking the supply chain dependence on China is likely to accelerate with the pandemic, which has resulted in unprecedented supply chain disruptions.
Make no mistake, efforts to move production out of China are not limited to Taiwanese manufacturers.
A Japanese government panel, the Council on Investment for the Future, on Thursday said it would consider ways to protect against disruptions caused by the pandemic, including funding Japanese firms to shift production back home or move production to countries other than China.
Coincidentally, US National Economic Council Director Larry Kudlow, a top White House adviser, that same day told Fox Business that Washington should also consider measures to assist US companies that want out of China, such as with relocation payments.
Considering a Nikkei Asian Review report last month that Japan is looking to include more Asian economies, including Taiwan, in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership to reduce trade reliance on China, clearly it is time for nations to promote domestic manufacturing or look for supply chain deployment beyond China.
Furthermore, the over-reliance on China for a number of raw materials, key components and strategic goods needs to be addressed once the pandemic is brought under control, as national security carries more weight than other considerations.
As more governments mull ways to reduce their reliance on China and Beijing’s regional and global influence, the world’s manufacturing landscape will never be the same.
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