Taiwan chip sector to stay competitive despite China’s ambitions

Taiwan hopes to give China a run for its money — at least in the short run.

The island’s minister of economy told CNBC that Taiwan will remain competitive in the semiconductor space, even as China ramps up its chip ambitions.

Wang Mei-hua, head of the ministry of economic affairs, pointed to Taiwan Semiconductor Manufacturing Company, and said the world’s largest contract chip maker is “globally competitive in foundry manufacturing due to their technical breakthroughs.”

“Taiwan will continue developing our semiconductor industry. In the short term, I think we will remain competitive,” she told CNBC’s Emily Tan on Wednesday.

Asked if China’s push to develop its semiconductor industry raises…