The Globe and Mail reports in its Friday, Feb. 27, edition that Taiwan, home to the world's largest maker of the chips used in artificial intelligence applications, Taiwan Semiconductor Manufacturing, plays a pivotal role in the global AI supply chain. The Globe's guest columnist Jamie McGeever writes that Taiwan's statistics office just raised the country's 2026 GDP growth forecast to 7.7 per cent from the 3.5 per cent it predicted in November. That is an astonishing revision in just a few months. This all suggests that the presumed U.S. advantage in tech and AI -- once at the heart of the "American Exceptionalism" narrative -- is eroding rapidly. Emerging countries, especially in Asia, are catching up, and investors are reallocating accordingly. Bank of America's latest global fund manager survey showed that the rotation out of U.S. stocks and into emerging markets surged in February, and investors are now the most overweight EM stocks they have been in five years. Indeed, investors' biggest overweight position in any asset or sector is now emerging markets. TS Lombard's EM equity allocation is the highest ever. It says investors have not been this bullish on emerging markets for more than 20 years.