More than 80 percent of local herbal and Western medicine traders worry about steep price competition after Taiwan's entry into the WTO, a survey by a Taipei import-export association showed yesterday.
The association recently conducted the survey of its members to solicit their views on Taiwan's entry into the WTO and find out what their plans are to deal with that entry.
Some 67.6 percent of the traders worry that price competition will be even fiercer after Taiwan's entry into the WTO, and 56.2 percent said that after the opening, their rivals will increase and will influence the operations of their companies.
In terms of products, some 88 percent of traders in plastic products and 83.9 percent of those trading in herbal and Western medicines said that they worry that price competition will become fiercer after WTO entry.
In addition, 39.3 percent of traders also worry that Taiwanese businessmen in China will resell their products to Taiwan, taking advantage of their cheaper costs.
Overall, 49.2 percent of the manufacturers also think that Taiwan's entry into the WTO will be a mixed blessing. Just over 32 percent said that it will be advantageous, while 9.2 percent said that it will be disadvantageous.
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