The Directorate General of Budget, Accounting and Statistics (DGBAS) has adjusted downward its forecast for 2001 GDP growth to 5.25 percent from its earlier 6.03 percent forecast, attributing the cut to a weakening global economy, declines in domestic and international stock markets and the sharp fall in manufacturing output. \nTaiwan's economy slowed more than expected in the fourth quarter as electronics exports lost steam and political feuding sapped investor confidence. \nThe country's gross domestic product (GDP) grew by an annual 4.08 percent in the last quarter of 2000, slowing from the third quarter's 6.6 percent, according to data released yesterday DGBAS. \n"The most important factors for this year's economic growth are still political issues, and political uncertainty will hurt Taiwan's economy," said Lin Chuan (林全), director of the nation's top budget and statistics agency, yesterday. "A rebound isn't expected this year," he added. \nIn an effort to boost the economy, the central bank has lowered interest rates to shore up the economy. It cut the benchmark rate a quarter-point to 4.375 percent on Feb. 1, citing slowing exports, lending and investment. \nAdditionally, the government proposes spending NT$111.5 billion (US$3.45 billion) on roads, bridges and other public works. The money would come in addition to existing budget allocations. \nLin said this year's economic growth forecast of 5.25 percent is dependent on the Legislative Yuan's approval of the additional public works spending. \nIf the money isn't spent, he said, growth could fall to as little as 4.75 percent to 4.85 percent.
EFFICIENCY: The rules for Philippine arrivals were revised after 17.6% of arrivals with symptoms tested positive, compared with 0.7% of those with no symptoms Starting today, Chinese spouses who hold a reunion permit can apply to enter Taiwan and travelers without symptoms from the Philippines do not need to be tested for COVID-19 upon arrival, but are to be tested after a 14-day quarantine, the Central Epidemic Command Center (CECC) said yesterday. Minister of Health and Welfare Chen Shih-chung (陳時中), who heads the center, said that from today, Chinese who are married to a Taiwanese citizen and hold a reunion permit can apply to the National Immigration Agency for entry into Taiwan. Chinese who are married to a foreign national and hold an accompanied reunion permit
CONSOLIDATION? Taiwan Thinktank deputy executive-general Doong Sy-chi said Beijing’s intimidation tactics are further alienating those who identify as Chinese Only 2 percent of respondents to a poll on constitutional amendments and national identity identified as Chinese, while 62.6 percent identified as Taiwanese, the Taiwan Thinktank said yesterday. Legislators have proposed amendments to the Additional Articles of the Constitution (憲法增修條文), which would change the definition of the nation’s territory, remove the Taiwan Provincial Government as an entity, prioritize the use of “Taiwan” for national groups at international events, and remove restrictions on defining the national emblem, national flag and national anthem. The poll showed that 80.5 percent of respondents agreed that the nation should participate as “Taiwan” at events organized by world
MISTAKE: The Global Covenant of Mayors for Climate and Energy is not a UN body, and the government is committed to protecting the nation’s name, Joseph Wu said The Ministry of Foreign Affairs yesterday condemned the Global Covenant of Mayors for Climate and Energy for listing Taiwanese cities as belonging to China on its Web site, and asked that it correct the error. The organization was inaugurated in Brussels in 2016 as a global coalition of mayors committed to reducing greenhouse gas emissions. Six Taiwanese cities at the time joined the coalition as cities in “Taiwan,” the ministry said. However, officials from the Kaohsiung City Government — one of the organization’s members — last week noticed that the city was now listed on the organization’s Web site as a
BALANCED DEVELOPMENT: TSMC chairman Mark Liu said the firm is committed to local investment: a third in the north, a third in the center, a third in the south Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, yesterday said that, based on its strategy of balancing capacity, it plans to make northern Taiwan its manufacturing hub for advanced technologies that go beyond 2 nanometers. “As the company is committed to investing in Taiwan, we try to deploy one-third [of our total production capacity] in the north and have one-third each in the center and south” of the nation, TSMC chairman Mark Liu (劉德音) told reporters on the sidelines of Semicon Taiwan’s Master Forum in Taipei. TSMC last year reached its goal of deploying capacity equally across those parts
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