Written by Roy Lee. Taiwan has been preparing for CPTPP accession for the last eight years. The economic importance of CPTPP for Taiwan is critical, as it is perhaps one of the limited options available for Taiwan to avoid being marginalised from the Asia Pacific regional integration process. This article starts with a review of key policy rationales for Taiwan’s CPTPP accession, then analyses major challenges and impediments, and offers thoughts on future prospects.
Written by Shihoko Goto. The momentum for Taiwan to be an integral part of the global economic community is reaching unprecedented levels. Taiwan’s ability to keep the pandemic at bay when the international community was first gripped by the rapid spread of covid in early 2020 certainly opened the world’s eyes to Taipei’s efficient, capable responses to emergencies. But the disruptions to global supply chains and the recognition of Taiwan dominating the international semiconductor manufacturing market have catapulted Taiwan’s economic standing. At the same time, growing concerns about ensuring the status quo in cross-Strait relations have only raised awareness of the fragile situation that Taiwan finds itself in. The question is whether Taiwan has suitably leveraged its advantages to ensure its economic prospects and safeguard its future.
Written by Frank Siedlok, Natasha Hamilton-Hart, Hsiao-Chen Shen. As the SARS-CoV-2 virus and the related news spread for the last two years, the shortages of personal protective equipment (PPE) and medical equipment became apparent, causing policymakers globally to panic. Having learned from SARS in 2003, Taiwan foresaw the need to address the demand for facemasks.
Although 2022 may be seen as the continuation of the Covid-19 pandemic worldwide, it has also marked the third year after Taiwan opened its agricultural labour market to Southeast Asian workers. It is widely known in Taiwan that small tenant farmers in the vegetable, fruit, and tea sectors and livestock farmers have been challenged by chronic shortages of seasonal labour.
Min-Hua Chiang examines the growth of Taiwan’s robust ICT industry. China was considered a potentially important competitor to Taiwan’s ICT firms a few years ago. However, China’s effort to reduce its reliance on importing key components was unsuccessful. In July 2021, Tsinghua Unigroup, a state-backed semiconductor manufacturer, filed a bankruptcy request. Chinese chip industry only took 7.6% of total global semiconductor sales. Its equipment and materials for production are still limited to older technologies. The American government has been encouraging manufacturing production at home to reduce imports of key components from overseas. Nevertheless, the high labour cost and lack of qualified workers in the semiconductor industry will make it difficult to reduce its reliance on Taiwan. The greater US-China competition in the high technology industry is only likely to increase the superpowers’ dependence on Taiwan’s semiconductor industry.
Written by Chen-Yu Lin. While the presence of music is found mainly in the side events of TCCF, it implies that music is an effective and powerful medium to engage the public and bring publicity. However, the relationship between music and other cultural technologies is yet to be probed, problematized, and identified. While the influence of technologies is praised and habitually presented in a positive light in TCCF, the unceasing tension between music creators and technological development—highlighted by discussions of streaming royalties and antitrust regulations—is concealed.
Written by John F. Copper. The recent economic news emanating from Taiwan is the impressive growth in its gross domestic product (GDP)—one of the basic indicators of economic vitality. This is certainly good to hear. After experiencing negative growth throughout most of 2020, conditions changed in the last quarter of the year. As a result, Taiwan even bested China’s GDP growth. Furthermore, the upward trend accelerated this year, with GDP expansion the highest in two decades. If this growth is sustained, 2021 will end with a welcomed 5 per cent or better rise.
Written by David Michael Jaffe. Space Force. Space Operations Squadron. Strategic Support Force. These are the entities, all created within the last five years, responsible for shaping the future of military space operations in the United States, Japan, and the People’s Republic of China, respectively. Russia, too, calls its military’s outer space division the “Space Force.” Meanwhile, South Korea – while it has yet to name a new division formally – recently launched a military satellite aboard a SpaceX rocket in Florida and plans to launch a military satellite from its own soil in the next few years. Australia has already launched satellites from its own soil. Members of the country’s Defence Science and Technology Group are considering launching their own military satellite and advocating for creating their own space force. It is no secret that North Korea also has ambitions to engage in the military space arena.
Written by Yu-Ching Kuo and Robyn Klingler-Vidra. Early into the global pandemic — and amidst ongoing U.S.-China trade tensions — the International Monetary Fund’s (IMF) World Economic Outlook in April 2020 forecast that Taiwan’s GDP would shrink by 4% in 2020. However, by October 2020, Taiwan’s exports unexpectedly grew by 3.4% and GDP increased by 2%. The outperformance was partly due to Taiwan’s capacity to fight COVID-19, which contributed to the export growth rate of semiconductors and electronics and information technology industries, which was as high as 20%. #Taiwan #economy #industry #covid #Trump @RobynVidra
Written by Bo-Yi Lee. Taiwan’s semiconductor industry has recently attracted attention from foreign governments and media due to the shortage of chips essential for carmakers. Besides, with the growing demand for advanced technologies, including artificial intelligence (AI), fifth-generation (5G) communication, electric vehicles, etc., Taiwan’s semiconductor industry’s strategic importance cannot be over-emphasized. For these Taiwanese firms in this critical supply chain, it is necessary to prioritize and strategize attracting, retaining, and developing talents, since this is a capital and a knowledge-intensive industry.
Written by Guo-Huei Chen, Ming-En Hsiao and Li-Ke Chang. The semiconductor industry is strategic to national security and critical to international connections in the high tech and techno-geopolitics era. In regard to tech, along with strategic competitions between America and China, Taiwan is at the frontline for its supply chains and geopolitics.
Written by Jason Chuah. Taiwan, with her economic strength in shipping, could perhaps be likened to a first-class marathon athlete running in the Olympics with flipflops unless it modernises its commercial maritime law. UNCTAD reports in its 2019 Shipping Outlook Report that Taiwan ranks 11 in terms of “ownership of world fleet ranked by dead-weight tonnage.” This is one place above the UK and only two places below the US. In terms of monetary value, it is ranked number seven in the world for ownership of bulk carriers (excluding oil tankers) and in the top 20 ship owning countries by value. Yang Ming and Evergreen are in the top 20 of terminal operators in the global league table.