Finnish Prime Minister Marin bluntly stated that the European economy is fragile because it is overly dependent on imported key technologies, such as Taiwanese chips.
According to the US political news website Politico, Marin said at the Slush Venture Capital Conference in Helsinki, Finland: "When we look at chips and semiconductors, we find that we are overly dependent on Taiwan, overly dependent on specific sources of supply."
Taiwan's "Sacred Mountain for Protecting the Nation" TSMC is a leader in the field of advanced chips, and Taiwan is crucial to the global semiconductor value chain.
Marin noted that if Europe does not manage to build its own technological capabilities, supplies could become tight in times of crisis, such as the early stages of the coronavirus outbreak and the current war between Russia and Ukraine.
"I want to highlight the skills, knowledge and technological capabilities that we should have and make sure we don't make the same mistakes in technology as we did with energy and medical supplies," she said.
Discussions on China by the European Council last month were warned that any conflict over Taiwan could seriously disrupt technology supply chains.
The EU announced a chip plan earlier this year, aiming to increase the EU's market share in the global semiconductor value chain to 20% by 2030.
