A cargo ship is pictured at a port in Keelung, Taiwan, 7 January 2022 (Photo: Reuters/Ann Wang).

Author: Min-Hua Chiang, NUS East Asia Institute Taiwan’s economy has outshined most others in the last two years. While the COVID-19 recession was hard most everywhere else, Taiwan’s economy enjoyed a moderate expansion of 3.1 per cent in 2020 and likely expanded by 6.1 per cent in 2021 — the highest growth recorded since the global financial crisis rebound 12 years ago. Taiwan’s economic expansion is an outlier amid the pandemic. Vigorous exports explain Taiwan’s outstanding economic performance. Pandemic travel restrictions triggered greater global demand for information and communications technology products. With the gradual return to normal in 2021, Taiwan’s…

Source link : Taiwan’s economy outperforms amid COVID-19 crisis by East Asia Forum

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