Taiwan’s Boosting Economy Amid the Prolonged Global Pandemic Crisis

Written by Min-hua Chiang. Taiwan government revised up economic growth forecast in 2021 to 5.5% in June despite the sudden surge of covid-19 cases since mid-May. This is the fastest growth path since and second only to the post-crisis rebound in 2010 (see Figure 1). The economy is bolstered by thriving exports outlook. Growing domestic investment is another anchor of Taiwan’s economy thanks to the continuous investment repatriation. The greater government consumption is expected to offset the potential fall in private consumption following the constraints on outdoor activities. Taiwan Centres for Disease Control (CDC)’s capability to put the domestic outbreak under control in a month further gives confidence that moderate economic growth this year could be expected.

Capitalising on Taiwan’s Advantages to Attract New Investments

Written by Lotta Danielsson. The Taiwan economy fared well in 2020 and continues to do so into early 2021. This is primarily due to strong domestic demand, robust technology exports driven by the global shift to remote work, and a rebound in export orders for industrial goods. According to recent figures released by its national statistics bureau, Taiwan’s economic growth in 2020 was 2.98%, outperforming China’s same-year growth of 2.3% for the first time in 30 years.

The Biden Administration and Taiwan’s Post-Covid Economic Prospect

Written by Min-hua Chiang. With 2.98% of growth rate in 2020, Taiwan’s economy has outperformed many countries in the world. The moderate economic expansion was attributed to the surging external demand for information and communications technology (ICT) goods and the growing investment repatriation. The domestic consumption remained resilient thanks to the growth in domestic tourism and economic stimulus measures. After all, Taiwan’s success in containing the COVID-19 underpinned the whole economy well amid the ongoing global pandemic crisis.

COVID 19 Recovery: Notes on Taiwan and the New World Trading Order

Written by Ian Inkster. The world is nowhere near getting over the COVID pandemic. Whether referring to the possibilities of mutations of the virus itself or to the transformations, reactions and perhaps resistances of the national populations who are being continuously coerced or persuaded into adherence to often dubious and motley official regulations, most commentators and analysts think we are either within or entering a strong second cycle of contagion and mortality.

How Taiwan is Helping the World by Forging Resilient Cooperation with ASEAN

Written by Karl Chee-Leong Lee. Organized by the Taiwan-Asia Exchange Foundation (TAEF), the recent Yushan Forum (October 18) in Taipei was the fourth forum since the event’s inauguration in 2017. While the previous themes of the forums were on social and economic connectivity, regional prosperity as well as innovation of progress, this year it was resilience that took the theme of the distinguished forum. This is difficult to understand as the current COVID-19 pandemic has undoubtedly demonstrated how vulnerable countries and societies in the world are when responding to the unprecedented crisis individually or in a group.

China Impact, Income Inequality and Its Discontents in Taiwan

Written by Thung-Hong Lin. In March 2014, the Sunflower Movement, a student-led protest to oppose the Cross-Strait Service Trade Agreement (CSSTA), shocked the Taiwanese public. For 24 days (March 18–April 10, 2014), Taiwan’s legislature was paralysed by protesters occupying the chamber, nearby roads and surrounding alleys, which prevented their eviction by police. The protesters claimed that the CSSTA would favour large companies investing in China, damage local small and medium-scale enterprises’ (SMEs) business and have a devaluing effect on local labour’s wages.

Prospect of Malaysia as the Gateway for Taiwan’s New Southbound Policy (NSP) Push

Written by Karl Chee Leong Lee. Despite lingering pessimism surrounding the impact of COVID-19 on Southeast Asia’s economy, Malaysia has unexpectedly enjoyed a new wave of Taiwanese investment. According to official figures released by the Malaysian Investment Development Authority (MIDA) last April, the value of inbound manufacturing-based investment from Taiwan has increased seven-fold. In 2019 Taiwan became the fourth largest FDI source for Malaysia’s manufacturing sector after China, the US and Singapore.

Quo Vadis => localisation policy in Taiwan

Written by Manuel Zehr. When speaking about infrastructure, energy, or engineering projects in Taiwan, along with international organisations/private companies under any DPP party administration, there is one major buzzword you always will hear which is “localisation”. What exactly is the definition of “Taiwanese localisation”? The meaning varies depending on the industry and segments within it.

The Impact of COVID-19 on Taiwan’s Economy and Future Prospects

Written by Min-Hua Chiang. Despite economic shrinkage, the impact of COVID-19 on Taiwan’s economy is restrained compared to other countries. Singapore (-2.2%), European Union (-2.7%), USA (-4.8%), China (-6.8%) and Hong Kong (-8.9%) have reported a more significant drop in the first quarter of 2020. Taiwan’s success in controlling the spread of COVID-19 has minimized the impact of COVID-19 on its economy. As of May 11 2020, Taiwan reported 440 cases and seven deaths, lower than most other countries in the world.

Cross-Taiwan Strait Economic Relations in Times of Uncertainty

Written by Tse-Kang Leng. Taiwan is now facing increasing pressure to adjust its cross-strait economic policies. In her second inaugural address on May 20 of this year, Taiwanese President Tsai Ing-wen re-emphasised the importance of Taiwan’s strength in the semiconductor and ICT industries, and she also urged the country to secure a central role in global supply chains. In order to cope with current global uncertainties, more substantial state intervention to consolidate economic security will become the new normal.

The Repositioning of Taiwan in the Global Supply Chain Network

Written by Min-Hua Chiang. The relocation of Taiwanese outward direct investment (ODI) away from China is a clear sign of the shifting global business landscape. The cross-strait division of labour in manufacturing production has started to fade after China’s wage hike, industrial upgrading as well as stricter rules on the environment and labour protection. Taiwan’s ODI in China has declined visibly after 2012.

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