CAUTIOUS INCREASE:Trump’s pledge to take jobs back from Asia to the US could temper export growth, while stagnant wages could limit private consumption growth
Date: Nov 11, 2016
By: Crystal Hsu / Staff reporter
The economy is forecast to grow 1.65 percent annually next year, mildly better than an estimated 1.17 percent for this year, as the world embarks on a bumpy and fragile recovery amid increasing protectionism, the Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) said yesterday.
“Donald Trump’s victory [in Tuesday’s US presidential election] adds uncertainty to global trade and Taiwan would be lucky to fare steady given its heavy dependence on the US,” TIER Economic Forecasting Center director Gordon Sun (孫明德) told a news briefing.
Trump has pledged to take jobs back from Asian countries — including Taiwan — by making US firms manufacture products at home.
Taiwan is a leading supplier of chips, camera lenses, batteries, casings and other electronic components for smartphones, tablets and notebook computers. [FULL STORY]