Taiwan's biggest chip risk may be losing its people, not its machines — bad news for Taiwan's long-term lead in semiconductors.

• Chinese firms are offering Taiwanese chip workers up to 10 times local pay to jump ship.
• Some Chinese companies hide behind shell firms set up in third countries or registered under non-Chinese names, so they look Taiwanese.
• Taiwan has opened 166 cases of suspected Chinese theft of trade secrets since 2020, with 36 convictions so far.
• Experts want a public database of who really owns companies, since regulators often can't tell who is behind them.
• Chip plants are among the hardest things humans build, and experienced engineers can't be replaced by simply buying equipment.

Outlook: Expect Taiwan to tighten ownership checks as the US-China chip fight moves deeper into supply chains and hiring.