Could've done worse

Article Abstract:

Taiwan experienced strong export and overall growth in 1994 despite a dismal start and poor projections. Its gross national product rose 6.1% and exports grew 8.8%, while trade surplus slipped to $7.7 billion. The deficit with Japan narrowed slightly to $14 billion. While the savings rate fell to only 28.2%, private investment rose 12.2% and foreign capital raised exceeded the five previous years combined. Unemployment at year end was 1.5% with consumer prices up 4.1%. China is now Taiwan's second largest market.

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What next?

Article Abstract:

Taiwan's trade and overall economy seem fundamentally healthy but Chinese missile tests and several bank runs and scandals have battered confidence and driven the stockmarket to a 20-month low. Projected GDP growth for the year is down from 6.9% to 6.6%, thanks in part to slack private consumption. A weaker currency has boosted exports, up 24% year-on-year in the first seven months, though imports surged $26.7 billion in the same period. Money growth is slow and investors seem cagy, with retail inflation at 4.7%.

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