{"id":21433,"date":"2022-05-04T11:16:28","date_gmt":"2022-05-04T03:16:28","guid":{"rendered":"https:\/\/ljdevice.com.tw\/?p=21433\/"},"modified":"2022-05-04T11:16:28","modified_gmt":"2022-05-04T03:16:28","slug":"china-lockdowns-ukraine-war-make-relatively-small-impact-taiwan-economy","status":"publish","type":"post","link":"https:\/\/ljdevice.com.tw\/en\/china-lockdowns-ukraine-war-make-relatively-small-impact-taiwan-economy\/","title":{"rendered":"China lockdowns, Ukraine war make \u2018relatively small\u2019 impact on Taiwan economy"},"content":{"rendered":"

27 Apr, 2022<\/p>\n

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Taiwan<\/span><\/a><\/span>\u00a0has seen a \u201crelatively small\u201d economic impact from the combined effects of the war in\u00a0Ukraine<\/span><\/a><\/span>\u00a0and Covid-19\u00a0lockdowns<\/span><\/a><\/span>\u00a0in eastern China, but is remaining cautious.<\/p>\n<\/div>\n

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Taiwanese economy minister Wang Mei-hua said on Wednesday some companies were relying on existing stocks while others were postponing deliveries, and the government was keeping a close watch on developments.<\/p>\n

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Taiwanese economic affairs minister Wang Mei-hua. Photo: Handout<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Taiwan is a major semiconductor producer with a trade dependent economy that is expected to have grown 2.9 per cent on-year in the first quarter, slowing from 4.86 per cent for the previous quarter, with exports holding up well but weaker domestic consumption.<\/p>\n

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The lockdowns in Shanghai and neighbouring Kunshan city have affected the operations of many Taiwanese firms, especially in the key electronics components sector.<\/p>\n<\/div>\n

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\u201cAs for Taiwan\u2019s own GDP, we look upon with caution the Russia-Ukraine war and China\u2019s lockdown, but at present the impact on Taiwan is relatively small,\u201d Wang said.<\/p>\n<\/div>\n

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Taiwan, which releases its preliminary first quarter gross domestic product number on Thursday, does not have a major trading relationship with either Russia or Ukraine, though it has joined Western-led sanctions on Moscow.<\/p>\n<\/div>\n

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Taiwanese officials have repeatedly pointed to the island\u2019s good economic fundamentals, including exports which in the first quarter jumped 23.5 per cent year-on-year.<\/p>\n

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Still, the stock market has taken a battering, with the main index down around 10 per cent so far this year.<\/p>\n<\/div>\n

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Speaking earlier on Wednesday at parliament, finance minister Su Jain-rong said the National Stabilisation Fund \u2013 a formal government mechanism to intervene in the stock market in case of large fluctuations \u2013 was looking at market movements closely.<\/p>\n

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The Covid-19 lockdown in Shanghai is affecting supplies to Taiwan, a major semiconductor producer. Photo: Reuters<\/div>\n<\/div>\n<\/div>\n
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Taiwan<\/span><\/a><\/span>\u00a0has seen a \u201crelatively small\u201d economic impact from the combined effects of the war in\u00a0Ukraine<\/span><\/a><\/span>\u00a0and Covid-19\u00a0lockdowns<\/span><\/a><\/span>\u00a0in eastern China, but is remaining cautious.<\/p>\n<\/div>\n

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Taiwanese economy minister Wang Mei-hua said on Wednesday some companies were relying on existing stocks while others were postponing deliveries, and the government was keeping a close watch on developments.<\/p>\n<\/div>\n

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\"Taiwanese<\/div>\n
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Taiwanese economic affairs minister Wang Mei-hua. Photo: Handout<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Taiwan is a major semiconductor producer with a trade dependent economy that is expected to have grown 2.9 per cent on-year in the first quarter, slowing from 4.86 per cent for the previous quarter, with exports holding up well but weaker domestic consumption.<\/p>\n<\/div>\n

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The lockdowns in Shanghai and neighbouring Kunshan city have affected the operations of many Taiwanese firms, especially in the key electronics components sector.<\/p>\n<\/div>\n

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\u201cAs for Taiwan\u2019s own GDP, we look upon with caution the Russia-Ukraine war and China\u2019s lockdown, but at present the impact on Taiwan is relatively small,\u201d Wang said.<\/p>\n<\/div>\n

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Taiwan, which releases its preliminary first quarter gross domestic product number on Thursday, does not have a major trading relationship with either Russia or Ukraine, though it has joined Western-led sanctions on Moscow.<\/p>\n<\/div>\n

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Taiwanese officials have repeatedly pointed to the island\u2019s good economic fundamentals, including exports which in the first quarter jumped 23.5 per cent year-on-year.<\/p>\n<\/div>\n

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Beijing wants Washington to stop economic, hi-tech talks with Taipei<\/div>\n
25 Nov 2021<\/div>\n<\/div>\n
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Still, the stock market has taken a battering, with the main index down around 10 per cent so far this year.<\/p>\n<\/div>\n

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Speaking earlier on Wednesday at parliament, finance minister Su Jain-rong said the National Stabilisation Fund \u2013 a formal government mechanism to intervene in the stock market in case of large fluctuations \u2013 was looking at market movements closely.<\/p>\n<\/div>\n

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