Masayoshi Son of SoftBank Japan has proposed a plan for a Japan-U.S. jointly established sovereign fund, with an initial fund size reaching $300 billion, as reported by media outlets mentioning ongoing discussions between the U.S. and Japanese governments. However, this sovereign fund, which is said to bear multiple functions, conceals numerous risks, particularly that Taiwan should not be seen as a tool for the U.S. 'A alliance.'

According to reports from the Financial Times, several references to the concept of a joint sovereign fund have appeared in U.S.-Japan tariff negotiations, primarily owned by the U.S. Treasury and the Japanese Ministry of Finance, with plans to potentially allow limited partner investors in the future. The fund aims to rejuvenate their respective industries while also generating profit. For instance, Japan has proposed collaborating with the U.S. to revitalize its shipbuilding industry.

Son, a prominent figure in technology and venture capital, known for being an early investor in Yahoo and Alibaba, has seen a dip in his performance in recent years. For example, his Vision Fund raised $100 billion in 2017 but performed disappointingly, and he faced a notable setback when WeWork declared bankruptcy, causing losses up to $11.5 billion

Analysts suggest that if this sovereign fund is managed by the U.S., regardless of investment ratios, participating countries would likely have to conform to U.S. decisions, prioritizing investments that benefit the U.S. This could make any country jointly establishing a sovereign fund with the U.S. appear to be making an offering to the U.S. rather than a true collaboration.

Moreover, the unprecedented nature of this joint fund proposal may lead to conflicting interests, especially for countries within the U.S. 'A alliance.' It's important for Taiwan to carefully consider these risks and avoid hasty participation. Additionally, discussions regarding Taiwan's establishment of a sovereign fund should involve thorough professional evaluation.