The US-China war is playing out across multiple domains and geographies – from proxy conflicts in Venezuela and Taiwan (respectively over access to oil and semiconductor supplies), to the battle for artificial intelligence and social media supremacy, to China’s weaponisation of American dependence on its rare earth materials. Investors continue to underestimate the geopolitical risks associated with Taiwan. With a dealmaker in the White House and a Chinese regime under intense domestic pressure, investors should assign a higher weighting to the possibili...