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 Michael Reilly. In the medium to long-term, the coronavirus outbreak may turn out to be the high-water mark of foreign investment in China. Even before this, foreign companies were growing increasingly frustrated as the government increased minimum wage levels in provinces such as Guangdong and Fujian, and they also became frustrated with a growing burden of regulations and a bias in favour of domestic companies.