If microchips are the new oil, Taiwan is the new Saudi Arabia

Taiwan today produces ninety per cent of the world’s most sophisticated microchips that power everything from our smart phone and laptops to military equipment, electric cars and rockets that go to Mars. But Taiwan is also in the eye of a political storm, caught between China on the one side and the United States on the other.  How did the tiny island of Taiwan come to dominate the production of microchips and what happens if something goes wrong?