Myanmar crackdown intensifies; Hong Kong security law; TSMC's expansion plan

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Today on The Leaders' Brief -

  • Two months after Myanmar’s military, the Tatmadaw, took control of the country's government, its most prominent civilian leader and Nobel Peace Laureate Aung San Suu Kyi has been charged under the official secrets act that could jail her for a 14-year period. According to the activist group, the Assistance Association for Political Prisoners, the death toll due to a military crackdown has crossed 550 and thousands have been detained. The deteriorating situation in the country presently threatens billions of dollars worth of foreign investments from countries including Singapore, Japan, and the USA.

  • China recently convicted seven of Hong Kong's most prominent pro-democracy campaigners including media tycoon Jimmy Lai and veteran politician Martin Lee, for unlawful assembly. The activists, some of whom face additional charges could face jail terms of up to five years. China has been at loggerheads with Western nations over its Hong Kong policies after Beijing passed the controversial National Securities Law, last year. Last month, China passed a legislation to amend Hong Kong’s electoral process under which the Chinese Communist Party will have indirect authority to vet prospective MPs, undermining all possibilities of the existence of an effective opposition in the region.

  • Taiwan based chip maker, the Taiwan Semiconductor Manufacturing Co., announced plans to invest $100 billion in the next three years towards expanding its manufacturing capacity. The $100 billion at approximately $33 billion over the next three years represents a roughly 43% increase over last year’s $20.7 billion expenditure on manufacturing and research. The investment appears to be critical in meeting rising demand that has accelerated over the past year as the pandemic substantially increased global demand for digitization.

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