U.S. Economy Could Face Major Hit If Taiwan Conflict Erupts
• US GDP could contract 6.7% in first year of Taiwan war, worse than 2020 COVID impact • Chinese blockade of Taiwan could shave 3.3% off US GDP growth • War could wipe out $10 trillion or 10% of global GDP • Taiwan's economy could shrink 40% in first year of conflict • Tensions may rise if separatist candidate William Lai wins Taiwan election