With all respect, Chang has this exactly backward. TMSC manufacturing 100% of the world's most advanced chips in Taiwan is not "globalization." If anything, it's the opposite. Globalization is about leveling the playing field, so companies can source products & services from countries across the globe. A fab in Arizona is literally advancing globalization.
The theory of international trade is based on the principle of comparative advantages. So theoretically if Taiwan can produces chips the cheapest, including transport and other costs, they shall do just that.
The decline of globalisation is due to, IMO, risk aversion of having too much of your supply chain, especially for essential and/or not easily replaceable merchandise, tied to an antagonistic or potentially antagonistic partner.
In other words, some of these "other" costs have become too high to just buy certain things somewhere else and call it day.
