CHINA CONTAGION:The institute was downbeat on as widely anticipated upturn in the second half, saying the nation’s economic dependence on China makes it vulnerable

Taipei Times
Date: Jun 30, 2016
By: Crystal Hsu / Staff reporter

Academia Sinica yesterday cut its GDP growth forecast for the nation this year to 0.52 percent — the lowest of all domestic research bodies — from its previous estimate of 1.74 percent, in the wake of Britain’s decision to exit the EU.

The chance of a contraction in the nation’s economy is 50 percent if things fare worse than expected, the nation’s top research institute said.

“Heightening uncertainty and tepid growth momentum are making the recovery [in Taiwan] bumpy,” research fellow Ray Chou (周雨田) said.

The nation’s economy might be weaker than last year, when GDP increased 0.65 percent, Chou said.     [FULL  STORY]