Foreign investors could once barely imagine that China would invade Taiwan, but with Donald Trump as president of the United States, many view it as a tail-risk scenario they must prepare for, although they cannot find ways to do so.
The democratically governed island has long been a point of contention in U.S.-China relations, which have worsened since Trump entered the White House in January and launched tariffs that have rattled markets.
Investors fear that if China attempts to take over what it considers "sacred" territory, it risks a war that ushers in the end of Taiwan as a market with its own currency and identity, while the only other alternative is peace and the status quo.
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