By recent estimates, approximately 80% of the most commonly used microchips and semiconductors come from Taiwan. Given the political quagmire that surrounds Taiwan, there has been renewed discussion of whether or not the United States should attempt to produce these microchips and semiconductors domestically - especially as China threatens to blockade the island. In a brief essay, use the models we've discussed in class to explain a. How a blockade would impact the trade of microchips between the US and Taiwan and why (HINT: Look at part 1d from the question above). b. The challenges and welfare impact associated with re-shoring this production