News Analysis One theory on why the Chinese regime has not invaded Taiwan is that an invasion would interrupt the flow of microchips that are necessary for nearly all forms of technology, including weapons. Now, the war in Ukraine may disrupt the supply of necessary inputs of microchips, eroding Taiwan’s “chip shield.” Taiwan Semiconductor Manufacturing Company (TSMC) is the world’s largest maker of microchips, the brains that enable much of our modern technology. Microchips are a $1 trillion dollar per year industry, but when the value of products made with microchips is considered, the number increases exponentially. On the one hand, the Chinese Communist Party (CCP) may want to invade Taiwan in order to gain control of the valuable chips. On the other hand, the CCP may be dissuaded from invading over fears that an invasion could disrupt future supply. The loss of Taiwanese chips would cost electronics firms and auto …