> I think it a testament to the collectively perceived value of semiconductors.
Taiwan has been a subject to threat of invasion for a long time before TSMC was a thing.
A short while ago Intel had the best fabs and CPU chips. Nobody thought another country invading USA was plausible.
> so if I'm correct, if/when there are multiple comparable fabs in multiple parts of the world the geopolitical risks should go down in taiwan
No. Taiwan has for decades been a point of geopolitical tension between powers around in Pacific (which currently is US and China). The existence of TSMC makes the rest of the world care more (or scared more), but the PRC isn't just going to give up its decades long goal of taking over Taiwan because there's another TSMC somewhere else (or even in mainland China).
Taiwan has been a subject to threat of invasion for a long time before TSMC was a thing.
A short while ago Intel had the best fabs and CPU chips. Nobody thought another country invading USA was plausible.
> so if I'm correct, if/when there are multiple comparable fabs in multiple parts of the world the geopolitical risks should go down in taiwan
No. Taiwan has for decades been a point of geopolitical tension between powers around in Pacific (which currently is US and China). The existence of TSMC makes the rest of the world care more (or scared more), but the PRC isn't just going to give up its decades long goal of taking over Taiwan because there's another TSMC somewhere else (or even in mainland China).