After House Speaker Pelosi visited Taiwan, the president can't afford to look weak as U.S.-China tensions remain high, according to Varney Co. host Stuart Varney.
STUART VARNEY: Speaker Pelosi was only in Taiwan for just 19 hours, but she set off a crisis that was just beginning.
The Chinese military has six live-fire zones surrounding Taiwan.
Aggressive air and naval forces are the closest they've ever been to the island.
It looks like it's been used for a blockade, or even an invasion. It is certainly extreme intimidation.
No-one knows how this thing will develop.
Xi Jinping isn't willing to back off because he doesn't want to lose face before the election that he hopes will make him president for life.
Biden can't back off either. It looks like high-stakes tension that runs on and on. There's one thing that is happening in Taiwan because of the threats to Taiwan.
Taiwan semiconductors produce half of the world's computer chips, which is an industry dominated by that.
Speaker Pelosi said that significant Taiwanese businesses are already planning to invest in manufacturing in the United States. The speaker had only a 19-hour visit, but he got time to meet Mark Liu, chairman of Taiwan semiconductors.
Without Taiwan's chips, the world can't run.
It is now Biden who has to deal with the aftermath of the Pelosi visit.