Taiwan’s economic growth will likely slow to its weakest in five years in 2020 as consumption and tourism take a hit from the coronavirus pandemic, but the economy is set to rebound next year on improved demand for the island’s exports.
Taiwan’s central bank (CB) revised up its growth outlook for the year amid signs the island’s export-dependent economy is bouncing back from the impact of the novel coronavirus pandemic, and left its policy rate unchanged as expected.
Taiwan laid to rest on Wednesday former President Lee Teng-hui, dubbed “Mr Democracy” for burying autocratic rule in favour of freewheeling pluralism and defying China’s drive to absorb an island it regards as a wayward province.
China said on Friday it was conducting military exercises near the Taiwan Strait, as a top US diplomat visits the self-ruled island in a move that has angered Beijing.
A Hong Kong murder suspect, whose case led the government to attempt to pass an extradition bill last year that sparked massive protests, is expected to return to Taiwan this month to answer the charges of killing his girlfriend.
Taiwan government officials inspected one of the island’s major ports on Thursday to check shippers were in compliance with United Nations sanctions against North Korea, after previously being implicated in breaking them.
Since the worldwide outbreak of the virus, Taiwan has curtailed the pandemic, recording 890 imported cases. However, since Jan.12 there has been a widespread of transmission at a hospital.
Taiwan took early and effective steps to control the virus, with the large majority of its 909 confirmed cases in people who caught COVID-19 abroad. The new outbreak has infected 19 people since the start of the month, centring on a hospital in the northern city of Taoyuan.
“During her trip, the Ambassador will reinforce the US government’s strong and ongoing support for Taiwan’s international space, in accord with the US one-China policy that is guided by the Taiwan Relations Act, the three US-PRC joint communiques, and the Six Assurances to Taiwan,” it said in a statement.