Taiwan and the United States could begin talks to deepen trade and economic ties “in a few weeks,” two senior Taiwanese government officials told CNN on Friday.
The new discussions will “explore concrete ways to deepen the US-Taiwan trade and investment relationship,” the officials said, with the focus on institutionalizing cooperation in supply chain resilience, labor, environment and sustainable development. CNN
Tag: Economy
Taiwan lowers GDP forecast for 2022, raises inflation expectations
Taiwan lowered its GDP growth forecast for this year by 0.51 percentage points to 3.91% versus its previous forecast.
According to an official statement on Friday from the country’s budget directorate, inflation is expected to reach 2.67% on average this year, increasing by 0.74 percentage points. aa.com.tr
Economy is security
The Quad countries and others in Asia made clear over the last five days that while things like maritime defense are important, real security has to heed Asian countries’ economic wants and needs. CNBC
Foreign investors are fleeing China
Jing’an century, a housing development with ponds and lush greenery in north Shanghai, should have been bustling with activity as workers put the finishing touches on flats. Instead the area is silent. A two-month lockdown of the city of 25m people has forced the developer, a large group called Yanlord, to halt construction on the site. Homebuyers have been on edge for months as some of the country’s largest developers default on bonds and struggle to deliver homes to ordinary Chinese buyers. More from Economist
China’s $16 Trillion Cash Hoard Shows Deepening Household Gloom
For decades, the surest way for ordinary Chinese families to grow their wealth and guarantee future financial stability was to put most of their money into real estate, and the rest into the stock market. Bloomberg
China Makes Unexpected Rate Cut as Growth Crumbles
China’s central bank cut a key interest rate while keeping another unchanged, an unexpected policy shift that economists said would likely help the country’s moribund housing market but bring only limited relief to its struggling economy. Wallstreet Journal