Taiwan enjoyed a considerable increase in consumer confidence between the middle of last year and the end of last year. A survey by MasterCard International Corp found that the nation's consumer confidence index surged from 23.8 to 46.2 in that period.
The MasterIndex survey, conducted twice a year, measures consumer confidence in 13 markets within the Asia-Pacific region. The latest survey was completed in December 2001, with a total of 5,457 respondents from across the region providing their input, a company spokesman said yesterday.
In the survey, five variables were analyzed, namely the employment and economic situations, regular income, the stock market, and quality of life in the country.
While consumers in Taiwan gave higher scores for all five variables in the December survey, perceptions of the economic situation improved most, with the score surging to 52.2 from 24 in the previous survey. Perceptions of the stock market also improved dramatically, with the score rising from 32.2 to 59.1.
The spokesman said that the improved consumer confidence index was a sign of economic recovery, which he said would definitely help to boost consumers' purchasing power.
Among the13 markets surveyed, China emerged as the best performer, with Chinese respondents providing the highest-ever index scores for quality of life (92.1), for regular income (90.9), for the economy (90.6), and for the employment situation (76.5).
South Korea had the second-highest index score at 68.1, a remarkable recovery from the index score of 25.9 in the same survey a year ago and from 54.4 in the survey conducted in mid 2001.
The survey report indicated that consumer confidence in Hong Kong at the end of last year was at an all-time low, dropping to 12.5. The area's consumers showed the most anxiety about their future quality of life, the economy and employment prospects -- and the scores for all five variables dropped from those recorded in previous surveys.
The spokesman said the responses are based on consumers' thoughts on the six months ahead, namely for the December 2001 to May 2002 period.
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source
CHINA REACTS: The patrol and reconnaissance plane ‘transited the Taiwan Strait in international airspace,’ the 7th Fleet said, while Taipei said it saw nothing unusual The US 7th Fleet yesterday said that a US Navy P-8A Poseidon flew through the Taiwan Strait, a day after US and Chinese defense heads held their first talks since November 2022 in an effort to reduce regional tensions. The patrol and reconnaissance plane “transited the Taiwan Strait in international airspace,” the 7th Fleet said in a news release. “By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations.” In a separate statement, the Ministry of National Defense said that it monitored nearby waters and airspace as the aircraft