Export Recovery Fuels Higher GDP Growth Optimism regarding Taiwan’s economy is rising alongside trade figures as the island continues to benefit from the ongoing recovery in the global economy. Nearly all of the local economic analytics firms have raised their forecasts for GDP growth for 2017, with Academia Sinica, Taiwan’s top academic research institution, coming…

Wikipedia defines a circular economy as a “regenerative system in which resource input and waste, emission, and energy leakage are minimized by slowing, closing, and narrowing material and energy loops. This can be achieved through long-lasting design, maintenance, repair, reuse, remanufacturing, refurbishing, and recycling.” In line with global trends, the Taiwan government is actively promoting…

The Tsai administration is making a heavy commitment of resources to promoting seven sectors of the economy as the key to transforming Taiwan’s industry. The initial five “pillar industries” were the Internet of Things (also referred to as Asia·Silicon Valley), Biomedical, Green Energy, Smart Machinery, and Defense. Added later were high-value agriculture and the circular…

Improvement Seen in 2017 Outlook Economists are increasingly bullish on Taiwan’s growth prospects through 2017, with three local forecasting organizations raising GDP growth projections to over 2% for the year. The Chung-Hua Institution for Economic Research (CIER) announced on April 19 that it had raised its forecast from 1.73% to 2.11%. “The stronger-than-expected momentum of…

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The Economy is Improving with Help from Exports With sharp criticism of major trade partners and promises of protectionism in trade, the new administration of U.S. President Donald Trump has injected substantial policy uncertainty into the global economy. Nevertheless, the American economy continues to be the engine of global trade, and Taiwan’s trade figures are…

Uber is Over in Taiwan, at Least for Now Uber announced that it was suspending operations in Taiwan effective February 10 in an effort to “reset” discussions with the government over the U.S.-based ride-hailing company’s operational status. The Taiwan government insists that Uber register as a transportation company and follow relevant regulations, but Uber regards…