By: Wu Po-wei and Frances Huang
Taipei, Nov. 11 (CNA) On the back of expectations of eased trade tension between the United States and China, Taiwan, an export- oriented economy, is likely to see its gross domestic product (GDP) growing 2.45 percent in 2020, the Taiwan Institute of Economic Research (TIER) said Monday.
The growth forecast by TIER, one of Taiwan's leading think tanks in Taiwan, was higher than an estimated 2.40 percent increase for 2019, but the think tank seemed to be more cautious than the government, as the Directorate General of Budget, Accounting and Statistics (DGBAS) forecast in August that the local economy will grow 2.58 percent next year.
It was the first time that TIER had given its forecast for Taiwan's 2020 GDP growth.
TIER President Chang Chien-yi (張建一) told reporters that after wrapping up high-level trade negotiations in October, Washington and Beijing are expected to sign phase one of a deal later in the year, which is a positive sign for global trade. [FULL STORY]