SENSITIVE EXPORTS: The bank said uncertainty over the trade outlook would extend into next year, despite the agreement between the presidents of the US and China

Taipei Times
Date: Dec 22, 2018
By: Crystal Hsu  /  Staff reporter

GDP might grow at a slower 2.4 percent next year, as US-China trade tensions could evolve into a major disruptor of global electronic supply chains, posing downside risks to growth, Australia and New Zealand Banking Group (ANZ) said yesterday.

The trade issue is a key determinant of growth outlook, because the nation is an integral part of the global supply chain, which includes major economies such as the US and China, ANZ said.

About 48 percent of orders received by local manufacturers are produced in China, including Hong Kong, and the export outlook is sensitive to developments, ANZ said.

Although US President Donald Trump and Chinese President Xi Jinping (習近平) have agreed to delay new tariffs, uncertainty surrounding the trade outlook would extend into next year, it said.    [FULL  STORY]