Written by Harry West. The Coronavirus pandemic has presented the world with challenges the likes of which have rarely been seen before. COVID-19 — a disease for which a vaccine is yet to be found — has killed over 300,000 people and infected millions more. As well as the human cost, the virus has had a significant impact on the global economy, with governments across the world implementing social distancing measures as a means for combatting the spread.
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.
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.
Written by Winnie King. As recent polls suggest that Tsai will retain her role of president, many commentators point to the six month long (and counting) protests in Hong Kong, the 18-month long (and counting) trade war between the United States and Mainland China. We cannot however, ignore successful policies adopted during Tsai’s tenure as leader—most significantly her iteration of the New Southbound Policy (NSP)—and the contribution this has made towards diversifying Taiwan’s economy beyond that of cross-Strait relations.
Written by Yu-Ching Kuo and Robyn Klingler-Vidra. In this piece, we discuss how Brexit affects Taiwan in its role as a key player in the critical innovation arena of the global semiconductor industry. To do so, we contextualise Taiwan’s semiconductor industry in the dynamics of the global marketplace and discuss the potential effects of uncertainty on innovation.
Written by Marc Howard. Taiwan is a hotbed for tech start-ups focusing on block-chain, Artificial Intelligence (AI) and the Internet of Things. It hosts a proliferation of major start-up accelerators and incubators, including start-up super-hubs like Taiwan Tech Arena, which will spawn 100 start-ups per year and expedite the overseas expansion of 300 start-ups over the next three years.