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Taiwan’s Economy Stronger Than Anticipated In Spite Of The Trade War

Reportedly, the U.S.-China trade spat has disturbed supply chains and impacted the global growth prospect, but Taiwan’s financial system has been strangely resilient—which is an aspect that might aid incumbent President Tsai Ing-wen’s proposal for a second term in January polls. In the last week, Taiwan reported a growth of 2.91% yearly GDP (gross domestic product) in the third quarter of this year, bucking the slow-moving trend showed by trade-reliant South Korea, Singapore, and Hong Kong. Taiwan’s development in the July–September quarter surpassed the estimation of 2.5% in a Reuters survey of analysts and was greater than the 2.4% progress reported in the second quarter of this year.

Taiwan’s robust GDP rise in the third quarter was strengthened by exports, mostly in the electronics domain, which the region is known for. The new data read can benefit President Tsai, who is looking for a second term as a result of increasing approval ratings. The support for Tsai got a heighten following protests broke out in adjoining Hong Kong, stimulating concerns regarding Beijing intrusion and influence in the Chinese special governmental region. Beijing believes self-ruled Taiwan to be a rebellious province and had been using ever more violent rhetoric toward the island to pitch for a reunification following a civil war divided the two territories 70 Years ago.

On a similar note, recently, Taiwan warned of potential attack if China’s slowdown “becomes serious.” Beijing can way out to military disagreement with self-ruled Taiwan to deflect regional pressure if a decline in the world’s second-biggest economy in the middle of trade war intimidates the authority of the CCP (Chinese Communist Party), the island’s foreign minister stated. Since Taiwan’s presidential elections loom in January, China has accelerated an operation to “reunify” with what it sees a rebellious province, wooing away Taipei’s few diplomatic associates and flying customary bomber patrols around it.

Matthew Stowe
Matthew Stowe Author
MANAGING EDITOR At Industry News Channel

After acquiring an experience of 10 Years, Matthew Stowe has recently joined the Industry News Channel organization for more of data gaining aspect.  He has been writing articles based on business, finances, and market share since quite some time; hence he is kind of an expert in this particular sector-based report. Having a keen interest in the field of Business, Matthew holds the responsibility of writing news articles and blogs related to business such as mergers, acquisitions, events, and much more. Matthew is a skilled and experienced professional who puts forth business-related terms and concepts in an understandable and simple manner.

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