Revived orders for Taiwan's coveted semiconductor chips and higher consumer spending will help its economy.
Taiwan’s economic growth is predicted to expand this year at its slowest pace since 2015, and that will have implications for the global semiconductor chip war, relations with China and the U.S., and its much-watched election in January.
“I spent a week at the beaches in Penghu last month,” said 30-year-old IT worker Darren Chen, as he drank bubble tea in a bustling neighborhood of Taipei. But even if exports stumble again, other areas should compensate, said Jin-Li Hu, a professor of business and management at the National Yang Ming Chiao Tung University in Taipei.
“Boosting consumption may be the best solution, but the government’s plans to do so don’t seem credible,” said Adam Wolfe, emerging markets economist at Absolute Strategy Research. Beijing—which now has the world’s largest Navy—has undertaken fighter-jet sorties and destroyer-ship incursions into Taiwan’s territorial areas over the last year with unprecedented scope and aggressiveness, stoking fears that an invasion is increasingly possible.
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