TSMC is making the best of a bad geopolitical situation

For a company worth $430bn that straddles one of the world’s most dangerous geopolitical flashpoints, there is something endearingly unflustered about Taiwan Semiconductor Manufacturing Company (TSMC). Both America and China covet its unmatched ability to make advanced chips. It’s a far bigger supplier to the former than the latter, but if either superpower, through economic pressure or brute force, fully stifled its independence, the…