The Wire - October 24, 2024

//The Wire//2300Z October 24, 2024////ROUTINE////BLUF: BRICS SUMMIT CONCLUDES IN RUSSIA. TSMC FACTORY IN ARIZONA REPORTS POSITIVE EARLY PRODUCTION FIGURES.// -----BEGIN TEARLINE------International Events-Russia: The BRICS summit concluded this afternoon in Kazan. One of the more highlighted aspects of the summit was the unveiling of a prototype of the joint BRICS currency, should it be adopted at some point.-HomeFront-United States: As SECSTATE Blinkin returns from the Middle East, the State Department has announced the sending of another $135 million of humanitarian aid to Palestinian aid groups in Gaza.Arizona: This afternoon, the TSMC factory in Phoenix reported higher than expected early production yields for high-grade semiconductor chips. AC: As a reminder, the semiconductor industry is one major planning factor for a potential Chinese invasion of Taiwan. As most of the world’s high-grade computer chips are made in Taiwan, the implication for many years has been the assumption of a halt to the global technology sector due to critical factories being destroyed were a conflict to occur. Over the past year TSMC, the world leader in these highly-advanced chips, has ramped-up the relocation of much of their production to the United States, where the production lines would allegedly be slightly safer from Chinese bombs. The Phoenix factory just beginning to come online now (and providing positive production data) is a major mitigating factor for the global risks of a war in Taiwan, and reduces the potential for the United States to become directly involved in the war as well.-----END TEARLINE-----Analyst Comments: As is typical with international diplomatic summits, the side-line deals during the BRICS summit have been more important opportunities for diplomacy than official proceedings. Representatives from Azerbaijan and Armenia were observed to be conducting some informal diplomatic meetings between sessions, a somewhat surprising sight amid the exceptionally serious conflict between the two nations. Similarly, India took center stage in a few different ways. India met with China for the first time in several years, with the leaders of both nations expressing a bilateral desire for improving relations. Separately, India also rejected Turkey’s bid to join BRICS, likely due to Turkey’s strong ties with India’s mortal enemy…Pakistan. This morning, several Iranian media outlets reported that Iran would be taking part in joint naval exercises with Saudi Arabia in the Red Sea, though the timing and details of such military drills were not provided. Another interesting development was the collective and unanimous condemnation of Israeli actions in Lebanon and Gaza among all BRICS member states…which is interesting as some BRICS members (such as India) have been providing Israel with substantial military aid.Analyst: S2A1//END REPORT//