And how much of this is about, uh, Taiwan just being a, a, a sort of a tech hub in terms of actual manufacturing and how much of it is to do with intellectual property? Is there, is there creativity and innovation coming from the country or is it purely a, a, a factory?

Uh, it's actually very interesting 'cause Taiwan was of course, uh, part of the, uh, world's factory you could say in the past in the era of Made in Taiwan.

Now it's not cheap, uh, not durable goods, but now it's advanced semiconductors.

So there's strong knowhow there, but then IP is often held by American companies, for example.

And so we do focus a lot on Taiwan and supply chain, but Taiwan is in fact part of a, a much larger supply chain there just because there is so much, uh, infrastructure to again, cultivate talent through Taiwanese educational institutions, but also the enormous investment that must go into fabs, uh, to construct semiconductor manufacturing in Taiwan.

That's why Taiwan is the, the node in the supply chain that is very much focused on at present.

Uh, and what are the biggest risks that could slow Taiwan's exports?

exports?Well, I think particularly, uh, the AI field is very volatile.