economically, Taiwan is
dependent on Beijing. tech. & science rely on the US
TIME, 2023-11-20: Taiwan is the world's 16th-largest trading economy, exchanging $907
billion in goods and services in 2022. It produces 90% of the
world's advanced semiconductor chips, which are vital for every
industry but especially to the artificial intelligence boom.
Growth in Taiwan for 2023 is projected to be
1.61%—its slowest pace in eight years. Beijing
only has to lift a ban on Chinese tourists to boost Taiwan's GDP by
over 1%, according to
At the end of 2022, Taiwan's
per capita GDP amounted to
$32,756 while Singapore's was $82,808,
Japan and South Korea were at $33,815 and $32,255, respectively,
to the World Bank.
Suisse, Research Institute
Taiwanese' "Median wealth per adult", USD
108,250, is higher than Americans'
tbl.: Median wealth per adult (USD), Mean wealth per
Suisse, Research Institute
WSWS.org, 2023-11-29:low economic growth rates,
rising unemployment and social distress will also have a marked impact
(on presidential election). Taiwan entered recession in the first quarter
of 2023 as GDP contracted by 3.02 percent compared to the same period last year.
The economy is expected to grow by just 1.61 percent for the year.Real estate speculation is fuelling a growing housing crisis. While
official unemployment figures remain relatively low overall, youth unemployment
for those between 20 and 24 is more than 11 percent.
ResponsibleStateCraft.org, 2023-7-3: Taiwan's total trade
increased to $907 billion in 2022 from $508.4 billion in 2016. While 39
percent of Taiwanese exports went to China and Hong Kong last year, the
value of Taipei’s exports to the United States jumped to $74.9 billion — $45
billion more than in 2016. responsiblestatecraft.org/2023/07/03/taiwan-boosts-economic-diplomacy-despite-chinese-pressure/
Forbes, 2023-5-8: Like
The United States, Taiwan Is making efforts to de-couple its
economy from China's. It
is Taiwanese business that is taking the lead, Taiwanese direct investment
into China has plummeted some 81% from the equivalent of $9.0 billion in 2017 to
under $1.7 billion last year.
Brookings, 2023-4-17: Taiwan is
the 21st largest economy in the world and the eighth largest trading partner of
the United States. China accounts for around 23% of
Taiwan's overall trade, whereas the United States is around 13%.brookings.edu/podcast-episode/how-serious-is-the-risk-of-war-over-taiwan/
Richard C Bush Ryan Hass David Dollar
Democracy Perception Index 2023:
Government Priorities should be
promote economic growth ?-
Taiwan ranks world No. 5 (Indonesia, Iran, Venezuela,
Malaysia, Taiwan, Ukraine, Kenya, Peru, Argentina, Algeria) ;
Government Priorities should be reduce income inequality?
Taiwan ranks No.1 (40%), Japan, france, Singapore, S
"Taiwanese wealth" on Yandex, 2023-11-21
Post, 2022-10-21: 42
percent of Taiwan's exports — and 60 percent of its
chip exports — go to China.Taiwan, a major producer of semiconductors, says it will abide by U.S. rulesmsn.com/en-us/news/politics/taiwan-a-major-producer-of-semiconductors-says-it-will-abide-by-us-rules/ar-AA13dM8W
Global Times, 2023-2-4: The
latest Taiwan economic data is chilling. The economic growth rate in the fourth
quarter of 2022 was -0.86 percent. The electronics and communications industry,
always a pillar for Taiwan's exports, is facing particularly severe challenges.
The sharp reduction in overseas orders has directly led to the rare scenario of
negative growth in Taiwan's exports.
In December 2022, Taiwan's Manufacturing Purchasing
Managers' Index (PMI) fell by 0.2 percentage points to only 43.7 percent. It has
been in a state of contraction for six consecutive months, showing that Taiwan's
manufacturing industry is struggling.
At the same time, deep-seated contradictions in Taiwan's economy
are emerging one after another. The industrial structure tends to become rigid
due to long-term and severe unevenness, the high-tech industry has too little
coverage in terms of employment, and the traditional manufacturing and service
industries have a large number of employees but are continuing to decline. This
has caused long-term wage stagnation for ordinary workers on the island.In 2022, due to high imported inflation and the CPI reaching nearly 3
percent, the actual wages of workers in Taiwan experienced negative growth for
the second year in a row, and the gap between rich and poor is widening.
Dissatisfaction among the middle and lower class and youth groups on the island
is gradually risingglobaltimes.cn/page/202302/1284807.shtml
Global Times, 2022-12-9:
the volume of cross-Straits trade was only $46 million in 1978. It rose to
$328.34 billion in 2021. The mainland has been Taiwan's largest export market
for the last 21 years, generating a large annual surplus for the island. The
mainland is also the largest destination for Taiwan's off-island investment. By
the end of 2021, Taiwan businesses had invested a total of $71.34 billion in the
The Taiwan dollar's fortunes look set to take a turn for the worse as slowing
export growth (Chip
and a resurgent greenback weigh on the currency.Equity outflows and tensions in the Taiwan
Strait are also ...finance.yahoo.com/news/chip-downturn-fuel-more-taiwan-000000880.html?fr=sycsrp_catchall
Institute of International Affairs 2022-12-23:
Taiwan faces two great and interrelated
economic challenges. First, its lack of official recognition by the vast
majority of states puts obstacles in the way of the island's
economic empowerment. Second,
Taiwan's economy is heavily reliant on the mainland.
92% of the most advanced semiconductors are made by TSMC in Taiwan,
If Taiwanese semiconductor supply
were disrupted for a prolonged period, electronics and automotive manufacturers
would struggle to find alternative suppliers. This would lead to many firms
having to halt production.finance.yahoo.com/news/taiwan-world-economy-economist-explains-123545383.html
Credit Suisse Global Wealth Databook 2022
Median wealth per adult (USD)
Taiwan did $166 billion in trade with each other in 2020. Taiwan is one of the largest investors in
China, at almost $200 billion since 1991.washingtonexaminer.com/opinion/op-eds/seventy-year-lie-china-has-never-had-a-serious-claim-to-taiwan
New York Times, 2022-7-26: Any further downturn in China's economy would
have an outsized effect on Taiwan, whose exports to China hit a
● L.A. Times, 2022-7-29:The
country's economy relies on China, its
largest trading partner.
2022-7-13: The European Union is Taiwan's largest
foreign investor. More than 25% of the island's
foreign direct investments came from EU countries in 2020 and 15 of 27 EU member
states have representative offices in Taipei. The volume of bilateral trade has
risen to more than 68 billion dollars in 2021. While this is much
less trade than with China...
York Times, 2022-6-22: To Pressure Taiwan, China
Flexes Economic Muscle / China abruptly banned
all imports of grouper from the island, in an apparent attempt at turning the
economic screws on Taiwan...has also increasingly
sought to restrict the island’s access to China’s vast consumer market, banning
Taiwanese pineapples, then wax apples, last year after it said the fruits
brought in pests.
"Taiwanese wealth" on
"Taiwanese wealth" on
US Yahoo at
"Taiwanese wealth" on
"Taiwanese wealth" on
Microsoft Bing ,at
allianz Global Wealth
Report 2021 , Oct.12, 2022
With net financial assets per capita of 138,220 euros (US$134,364) by
the end of last year,
Taiwan ranked first in Asia and fifth globally in terms of net financial assets
The US, Switzerland, Denmark and Sweden were the only countries that had higher
financial assets per capita than Taiwan, at 259,780 euros, 237,110 euros,
183,610 euros and 146,510 euros respectively.
In terms of gross financial assets per capita, Taiwan ranked ninth in the world
with 164,610 euros, after Switzerland, the US, Denmark, Sweden, the Netherlands,
Canada, Singapore and Australia. taipeitimes.com/News/front/archives/2022/10/17/2003787174
● NDTV, 2022-8-4: In the first half of 2022,
Taiwan's exports amounted to $246.7 billion, while imports totalled $219.0
The trade surplus stood at $27.7 billion. Chinais
the biggest trading partner of Taiwan. Exports to Mainland China are 40 per cent
of total exports.
Electronic products comprise well over half of Taiwan's trade.
Taiwan's economy is dominated by the services sector
The mainland is now Taiwan's largest trading partner, and Taiwan the mainland's
eighth largest trading partner and third largest source of imports.
● Bloomberg, 2022-8-6: China is
Taiwan’s largest trading partner, with bilateral trade rising 26% on year to
$328.3 billion in 2021.finance.yahoo.com/news/taiwan-says-china-simulating-attack-035002189.html?fr=sycsrp_catchall
Baer Group's Global Wealth and Lifestyle
Report 2022 (2022-6-15)
The rankings are done after analyzing the cost of residential property,
cars, airfare, business school and other luxuries.
These are the world's most expensive cities to live in if you're rich nFinancial
Review: If you like luxury, these are the world’s most expensive cities
with four items ranked at the very top and the highest weighted-average
price increase (30%).
moved up the ranking, mostly due to the prices of shoes, bicycles, and
is the city which slid the furthest (previously 2nd),
driven by 13 items ranking lower than in the previous year and an
average depreciation of -8.8% on the Japanese yen.
New York 12.
Sao Paolo 13.
benchmark index has slid 21 percent since January, making it Asia's
worst performing stock market.
a month, Taiwan's minimum wage is considered extremely low for an
advanced economy, Taiwan has just generally struggled with this
culture of a really weak wage environment.
Survey: More than 20% of
Taiwanese under the age of 40 say they lack savings and
65% report they are in debt,
only one-third of respondents said their income exceeds
their expenses,... Some 41.8%
of respondents said their debt was high enough that they
felt economic pressure.
● Forbes, 2022-5-15:Taiwan is home to
the world's 22nd largest
economy, and is a leading source of electronics products. Taiwan
businesses that rank on the 2022 Forbes Global 2000list
of the world's top publicly traded companies out this month include
Hon Hai Precision — the big supplier to Apple led by billionaire
Terry Gou, and Taiwan Semiconductor Manufacturing Corp., or TSMC,
which makes computer chips for Intel.forbes.com/sites/russellflannery/2022/05/15/taiwan-covid-cases-hit-a-daily-record-68732-computex-tech-fair-affirms-in-person-return/?sh=ceeeb60e9714
● The China
Times, 2022-6-27, editorial:
According to China's statistics, in last year, Taiwan's total
exports to the mainland reached nearly US$250 billion, and its trade
surplus with the mainland exceeded US$170 billion, an increase of
US$31.1 billion from trade surplus in 2000. According to Taiwan's
data, the export value to mainland China and Hong Kong also reached
US$188.9 billion last year, an annual increase of 24.8%, the trade
surplus was US$104.7 billion...
Yahoo, 2021-11-20: Taiwan - a GDP of $760 billion (21st
biggest) and GDP per capita of $32,000, (29th).a critical supplier of
semiconductors, (20% global market share), in 2020, Taiwan’s exports
to China hit an all-time high. And “China and Hong Kong combined now
represent 34% of Taiwan’s overall trade, compared with 13% with the
United States,” according to Brookings. (The U.S. Trade
Representative notes that Taiwan is currently our 9th largest goods
trading partner with $90.6 billion in two-way goods trade — during
Yahoo, Bloomberg, 2022-2-7: The government of President Tsai
Ing-wen is looking to cultivate additional overseas markets to
reduce the mainland’s economic leverage.Taiwan Set to Lift Ban on Fukushima Food to Boost
China Morning Post, Hong Kong, 2022-4-11
Taiwan is heavily reliant on the
mainland’s economy, with at least 40 per cent of the island’s
exports going across the strait.scmp.com/news/china/military/article/3173760/would-us-really-rescue-taiwan-if-mainland-china-attacked
War On The
Rocks, 2022-1-27 (warontherocks.com/2022/01/taiwan-is-not-ukraine-stop-linking-their-fates-together/): Taiwan is an economic powerhouse
that punches well above its weight in global commerce, and its
economy is closely intertwined with the rest of East Asia and North
America. In 2020, it was America’s 9th-largest trading partner,
billion in two-way trade in goods and services. It is also
the home of the world’s most strategically important company, TSMC,
which has built a daunting lead in semiconductor technology and now
accounts for more than half of global foundry revenues......its
per-capita gross domestic product level
with Germany’s, adjusted for purchasing power.
the global production of computer chips /
source: The Military Balnce, IISS 2021
York Times, 2022-1-25:75
percent of production takes place in East Asia.Ninety percent of the most advanced chips are made in
could use economic coercion, cyberoperations and hybrid tactics to try to
seize or harm Taiwan's semiconductor industry — Biden
promised he would work to bring production of semiconductor chips back to the
Taiwan accounts for 64% of the total
chip foundry market, according to data from TrendForce. Taiwan Semiconductor
Manufacturing Company, or TSMC, accounted for 53% of total foundry revenue in
2021, according to TrendForce.
Taiwan isthe first
place in Asiato legalise same sex marriage.However, on the ground in Taiwan, things can feel decidedly more
old-fashioned, especially at the bank."Taiwan's banking industry is very, very traditional. There's
a lot of bureaucratic issues in it...
Global Times, 2021-9-20:Taiwan has a trade surplus of more than $100 billion a year
with the Chinese mainland
... Mainland stops importing two
Taiwan fruits, and DPP authority is howling.
● Forbes, 2022-2-5:Milestone: Taiwan Tops $100
Billion In U.S. Trade For First Time In 2021forbes.com/sites/kenroberts/2022/02/05/taiwan-tops-100-billion-in-us-trade-in-2021-for-first-time/?sh=40b07b1064a3
● Japan Times, 2022-7-8: the Japan Center for Economic
Research predicts that Taiwan's per capita GDP will
exceed Japan's in 2028.japantimes.co.jp/opinion/2022/07/08/commentary/world-commentary/will-taiwan-next-ukraine/
Japan Times, 2021-7-5:
China could try to strangle
Taiwan economically. Business ties between the two countries have
grown into a dense web of interdependence: Taiwanese companies have
invested $190 billion on the mainland and more than a million
Taiwanese live there. Yet these ties are now fraying as talk of
economic decoupling occupies businesspeople and politicians in
GDP per capita (Norminal)
Ranking Taiwan - No.10 in Asia & Pacific
Council on Foreign Relations, 2021-5-10: Taiwan’s
economy remains reliant on trade with China, which is the island’s
largest trading partner. However, their economic relationship has
experienced disruptions in recent years, partly due to Beijing’s
pressure on the island and Taiwanese officials’ growing concern
about its overreliance on trade with China.(cfr.org/backgrounder/china-taiwan-relations-tension-us-policy