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Cross-strait trade plunges, IMF lowers outlook


10-31-2016 16:33 BJT

Taiwan’s economy is feeling the impact of uncertainties in its relationship with the Chinese mainland.

Bilateral trade between the Chinese mainland and Taiwan stood at U.S.$80 billion in the first half of this year. That was down about 10 percent from a year ago.

Bilateral trade plunged by around 20 percent in June year-on-year after Tsai Ing-wen became leader in May. Experts blame the slump to a global economic slowdown, decreasing competitiveness of Taiwan’s economy, and a major political change.

The International Monetary Fund revised Taiwan’s economic growth down by 0.5 percent for both 2016 and 2017 in the latest version of its World Economic Outlook, making Taiwan the worst performer among the Asian “Four Tigers.”

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