How does the current global microchip supply chain work, and who has political power over it?

Fantastic and very important question about which Rob knows little

TSMC (Taiwan Semiconductor Manufacturing Company) is very key

Likely one of the reasons the US is keen on protecting Taiwan from China so much is that TSMC is key to the US

https://www.shiphub.co/worlds-top-semiconductors-producers/ China expected to grow

Research plz