A conflict over Taiwan wouldn’t just be a regional crisis, it could wipe $2 trillion off Europe’s economy in a single year. That’s worse than the financial crisis in 2008 or the Covid-19 pandemic's fallout. With Taiwan producing over 60% of the world’s advanced semiconductors – super important for artificial intelligence, cars, defense, medicine – Europe’s deep dependence on global supply chains leaves it uniquely exposed. Germany alone could see an industry output plunge by a staggering 14%.