UNSTABLE PARTNERS? The think tank’s forecasting center said the possibility of a trade war between China and the US following its imposition of duties posed a risk to Taiwan
Taipei Times
Date: Jan 26, 2018
By: Staff writer, with CNA
The Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) yesterday raised its economic growth forecast for the nation this year to 2.34 percent, up slightly from its November last year estimate of 2.3 percent.
Many international institutions, including the World Bank, Global Insight and the IMF, expect global economic growth this year to be better than last year, which should allow Taiwan to continue its growth momentum, Gordon Sun (孫明德), director of the institute’s Economic Forecasting Center, said at a news conference in Taipei.
However, there are still some uncertain factors that could affect economic development at home and abroad, including new policies rolled out by the US and Chinese governments, major economies’ monetary policies, and volatile crude oil and raw material prices, Sun said.
The US administration’s monetary easing and tax cuts are likely to attract investments and cash flow to the US, while China’s crackdown on pollution by intensifying environmental checks might drive up petrochemical prices and business operating costs, he said. [FULL STORY]