TAIWAN ECONOMY
India drops seven notches in global FDI ranking, inflows down 43% in 2023
Global FDI fell 2% to $1.3 trillion in 2023 amid an economic slowdown and rising geopolitical tensions. FDI flows to developing countries dropped 7% to $867 billion. Tight financing conditions led to a 26% fall in international project finance deals, critical for infrastructure investment. “Among the top 20 host economies, the largest absolute drops were registered in France, Australia, China, the US and India, in that order,” it said.
Charting the global economy: Fed holds; BOJ leaves yen at risk
Federal Reserve officials expect only one interest-rate cut this year, while the Bank of Japan delays details on bond buying. Far-right parties in Europe influence elections and impact the euro's value.
Asia shares stumble; political uncertainty grips euro
Asian stocks fell as traders reduced bets for Fed rate cuts due to a tight US labor market. A snap election in France raised political concerns, impacting the euro. MSCI's Asia-Pacific shares index also dropped.
Tech stocks lift Nasdaq, S&P 500 as rate-cut expectations tick up
Nasdaq hits record intra-day high on tech rally, fueled by gains in Microsoft and Amazon. Investors remain cautious, weighing economic concerns against the possibility of earlier Fed rate cuts.
Infra sector going to be challenged; time to take a pause: Rupal Bhansali
Ironically, I actually think it is a very healthy development. I know the market reacted quite negatively. Obviously, vis-a-vis expectations, it was certainly an upset loss.
US President Biden says not ruling out using military force to defend Taiwan
In an interview published on Tuesday in Time magazine, Biden said he has made clear to Chinese President Xi Jinping that the United States will not seek independence for Taiwan as Washington had agreed with Beijing, Focus Taiwan reported.
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Nvidia boss, top chip CEOs to lay out AI plans at Taiwan expo
The world's biggest heavyweights in chipmaking and artificial intelligence will converge this week for Taiwan's premier tech expo, with Nvidia CEO Jensen Huang expected to get a rockstar reception at his keynote speech on Sunday. That is thanks in large part to Nvidia becoming the undisputed global leader in the specialised chips and hardware needed for cutting-edge AI. A day before his speech at the National Taiwan University, Huang threw the opening pitch before a baseball game in Taipei.
Taiwan is selling more to the US than China in major shift away from Beijing
Taiwan is shifting its focus away from China, the world's second-largest economy, and towards the United States. The world's largest computer chip maker, TSMC, announced bigger investments in the U.S. last month after a boost from the Biden administration. Taiwanese semiconductor company ended its two-decade-long run in mainland China amid a global race to gain the edge in the high-tech industry.
US efforts to reshape global supply chains gather pace in Asia
President Joe Biden's tariff hikes on Chinese imports are reshaping Asian trade routes, with Taiwan's exports to the US surging over 80% in April.
Global chips battle intensifies with $81 billion subsidy surge
The concern over China’s rapid advances in key electronics turned into a full-scale panic during the pandemic because chip shortages emphasised the significance of these tiny devices for economic security.
Thailand extends visa exemption program for Indian tourists
Thailand has extended visa exemption for Indian and Taiwanese tourists until November 11, 2024, to boost tourism and economy. The country aims to attract 80 million tourists by 2027, emphasizing the sector's vital role in the economy.
Charting the global economy: European growth exceeds projections
Euro zone and US show mixed economic signals. Euro zone exits recession with strong GDP growth, while US faces moderating labour demand. Global economy sees fluctuations in factory output and industrial growth amid inflation concerns.
Taiwan detects seven Chinese military aircraft, seven naval vessels around nation
Taiwan's Ministry of National Defence reported the detection of seven Chinese military aircraft and seven naval vessels around Taiwan between Monday and Tuesday. The PLA aircraft included two that crossed the median line and three that entered the southwest corner of Taiwan's air defense identification zone (ADIZ). Taiwan's response included monitoring with surveillance systems, deploying combat patrol aircraft and naval vessels, and utilizing land-based air defense missile systems. This incident is part of a broader pattern, with China intensifying "gray zone tactics" since September 2020, involving military aircraft and naval vessels near Taiwan.
Xi tells Blinken US, China should be 'partners, not rivals'
Chinese President Xi Jinping on Friday told top US diplomat Antony Blinken that the world's biggest economies should be "partners, not rivals" as the two sides pressed for headway on a range of concerns. "The two countries should be partners, not rivals," Xi said.
Better US-China ties but still deep disagreements as Blinken starts visit
Antony Blinken's visit to China aims to address various issues like fentanyl supply, Russia's backing, Taiwan tensions, and potential sanctions on Chinese banks. The talks aim to stabilize U.S.-China relations amidst ongoing challenges.
Chinese general takes a harsh line on Taiwan and other disputes at an international naval gathering
The 19th biennial meeting of the Western Pacific Naval Symposium opened in Qingdao, where China's northern naval force is based, providing a vivid backdrop to China's massive military expansion over the past two decades that has seen it build or refurbish three aircraft carriers.
China sanctions 2 US defense companies and says they support arms sales to Taiwan
The announcement freezes the assets of General Atomics Aeronautical Systems and General Dynamics Land Systems held within China. It also bars the companies' management from entering the country.
Global trade to pickup in 2024: WTO
India clocked $451 billion goods export in FY 23 and $394.99 billion in April-February FY24. In its latest Global Trade Outlook and Statistics report, India’s share of global goods exports was 1.8% in 2023 and imports was 2.8%. In digitally delivered services, India’s share rose to 6% in 2023 from 4.4% in 2019. In global commercial services, India’s share in exports is seen 4.4% in 2023 at $344 billion, up 11% on-year whereas imports were flat at $247 billion.
Yellen speaks softly, but firmly, in Beijing
Yellen's visit to China emphasized the need for balancing economic growth post-Covid without external pressure, highlighting challenges in China's investment-led growth model and strained relations with trading partners like the US.
Charting the global economy: US jobs surge; Taiwan earthquake impact
The worst earthquake in Taiwan in 25 years briefly halted operations, but the semiconductor industry’s leading player expected to be back up and running fairly quickly.
Taiwan earthquake to hit some chip output, disrupt Asia supply chain: analysts
The island plays an outsized role in the global chip supply chain as it is home to the world's largest chipmaker Taiwan Semiconductor Manufacturing Co, which supplies chips to Apple and Nvidia. The country also houses smaller chipmakers, including UMC, Vanguard International Semiconductor, and Powerchip Semiconductor Manufacturing.
Taiwan quake to hit some chip output, disrupt supply chain, analysts say
Taiwan's earthquake impacts tech supply chain. Manufacturers face challenges in restoring operations. TSMC and Nvidia navigate potential disruptions. Pricing pressure expected in semiconductor industry. Short-term manufacturing disruptions anticipated globally.
Let’s applaud the good news for the world economy
It's too soon to turn cartwheels, but some important bellwethers of the global economy are looking better.
Biden and Xi discuss Taiwan, AI and fentanyl in a push to return to regular leader talks
US President Joe Biden and Chinese President Xi Jinping held a phone call discussing various issues like Taiwan, artificial intelligence, and security matters, aiming to restore regular dialogue between the two nations' leaders. The call follows their November summit, focusing on strengthening ties and cooperation.
Chip giant TSMC shifts away from hotspot Taiwan with Japan plant
Taiwan Semiconductor Manufacturing Company, which counts Apple and Nvidia as clients, produces half the world's chips, used in everything from smartphones to satellites and increasingly to power AI technology.
View: Taiwan talks strait
Taiwanese voters have re-elected pro-sovereignty Democratic Progressive Party's (DPP) Lai 'William' Ching-te as president, defying Chinese threats and expressing their commitment to democratic values. Despite economic concerns, voters chose to continue on a trajectory at odds with China's wishes. Beijing had framed the election as a choice between 'war and peace,' warning against Taiwan independence.
Taiwan boosts protection of key tech, but says won't affect chipmakers' business
Taiwan makes the majority of the world's most advanced semiconductor chips, used in everything from smartphones to electric vehicles, and the government has long worried about Chinese efforts to copy its success, including through industrial espionage and poaching engineers.
US officials to visit Taiwan to explain chip curbs: economy minister Wang Mei-hua
The Biden administration in October said it plans to halt shipments to China of more advanced artificial intelligence chips designed by Nvidia and others, as part of measures to try to stop Beijing from receiving U.S. technologies to strengthen its military.
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