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By: TNL Daily News
President Tsai Ing-wen (蔡英文) said on Monday that overseas businesses should return to Taiwan to help increase domestic demand and dodge the ongoing U.S.-China trade war.
Tsai, speaking to China-based Taiwanese businesspeople at a Lunar New Year banquet in Taipei, said the government is focusing on three major initiatives – growing domestic demand, marketing Taiwan globally and helping overseas businesses return to Taiwan – to counter a slowing global economy and weakening trade demand, according to the Taipei Times.
She said overseas businesses should shift their models from “made by Taiwanese businesses” to “made in Taiwan.”
Up to a million Taiwanese live or work in China at any given time, and China remains Taiwan’s largest export partner. However, frayed trade relations between China and the United States have led Taiwanese multinationals, such as Foxconn, to set their sights on emerging markets such as that of Vietnam. [FULL STORY]