Lai Ching-te has been inaugurated as the new president of Taiwan, succeeding Tsai Ing-wen. Lai aims to continue Taiwan's policy of de facto independence, strengthen its defenses, and maintain its dominance in the semiconductor industry. Taiwan Semiconductor Manufacturing Co (NYSE: TSM) plays a crucial role in this strategy, producing 90% of the world's most advanced semiconductor chips. Lai's administration will support TSMC's global expansion and address talent shortages as the company builds new fabs in the U.S., Japan, and Germany.