Written by Lotta Danielsson. For the first year of the COVID-19 pandemic, Taiwan served as a brilliant example of how best to handle the crisis. Leaning on its experiences during the 2003 SARS epidemic, Taiwan received glowing reviews for its protective measures. Stories about long stays in quarantine hotels and the vigilant surveillance of arriving travellers spread widely online. Donations of high-quality protective gear served as public relations opportunities, culminating with “Made in Taiwan” facemasks worn at the White House. Photos from a crowded live concert in Taipei elicited envy from those still in semi-lockdown elsewhere.
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.
Written by Arthur Ding. In April, the London based Economist carried several in-depth analyses on Taiwan and US-China relations in the context of China’s increasing assertive policy toward Taiwan. Among them, the one titled “Taiwan: the most dangerous place on Earth” elicited heated debates in Taiwan. Assuming that these analyses are correct, what do these analyses entail?
Written by Chun-Chien Kuo. By adding fire to the existing US-China Trade War, Covid-19 has accelerated the current economic adjustment pace, along with the need for supply chain reallocation in industries. Thus, industries and firms in Taiwan have responded to adjust their production of diverse parts and components. They have also attempted to establish their own sufficient domestic supply chains. New trends in supply chain reallocation have also emerged, such as localised supply chains, shorten supply chains and digitalisation under the Covid-19 threat.
Written by Michael C.Y. Lin. Taiwan’s success in battling the novel coronavirus has promoted its international image, attracting businesses, investment, and a skilled workforce to the country. These trends offer Taiwan a potential opportunity to deepen its talent pool. Over the past two decades, Taiwan has experienced stagnant real wage growth, driving out skilled domestic workers and discouraging overseas Taiwanese talent from returning to their homeland. In particular, talent outflow from Taiwan to China has raised serious concerns.
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.
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.
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 Ian Inkster. As Joseph Cummings has summarised recently for Redaction Politics, ‘experts believe that Mr Biden’s policy will fall short of provocation of mainland China and Mr Trump’s open empowerment of Taiwanese militarisation,’ and there is little reason yet to discount that view. The fact that the US has approved recent arms purchase deals with Taiwan may mean no real change in the long history of less-than-best military techniques being sold off to Taiwan as part of the old cold-war alliance.
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 Wei-Ting Yen. In the past few years, two political outsiders in Taiwan have quickly accumulated popularity and became serious political contenders in elections. One is Ko Wen-Je, currently the mayor of Taipei. The other one is Han Kuo-Yu, the recently impeached mayor of Kaohsiung, the second-largest city in Taiwan. Their rise has prompted the island nation to widely debate whether populism has grown its roots in Taiwan because Ko and Han share similar populist traits.