In addition to being a key partner to the international democratic community, Taiwan holds a key position in global supply chains. Taiwan is where 90 percent of the world's most advanced semiconductors are produced, while around half of the world's container ships pass through the Taiwan Strait each year.
This makes Taiwan's security and that of the broader region all the more critical, as any disruption in the Taiwan Strait could ripple across the world, just as we have witnessed in the wake of major events in recent years. The fact is that peace and stability in the Taiwan Strait are in the interests of us all.
It is therefore concerning that the security of Taiwan and the region faces increasing challenges. Every day, our authoritarian neighbor initiates millions of cyberattacks as well as frequent military exercises and other forms of gray-zone activities as a way to apply maximum pressure on Taiwan and its friends.
As Taiwan bears the brunt of these relentless threats, we know that we must also be relentless in our efforts to maintain peace and protect our hard-earned democracy. But we also know that to address China's increasingly aggressive actions and ensure stability in our region and the world, international cooperation is imperative.
We have been heartened to see that many world leaders share our concern. UN Secretary-General António Guterres stated this year that the UN will do all it can to help ease tensions in the Taiwan Strait. While just last month, the leaders of the US, Japan, and Korea reiterated that peace and stability across the Taiwan Strait are indispensable to the security and prosperity of the international community.