Taiwan's economy could start to rebound in the second quarter of next year and see an obvious recovery in the second half of next year, the head of a local think tank said yesterday.
Wu Rong-i (
Wu pointed out that the key to Taiwan's recovery hinges on when the US economy will rebound.
He also said that as the military campaign against terrorism continues, the US dollar could soften and he did not rule out the possibility that the Taiwan dollar will appreciate against the greenback, although such a rise would be modest. However, he added that the local currency could depreciate in the short term.
On interest rates, Wu also said that although short-term interest rates have dropped to a historic low, the economy is still poor and he predicted that interest rates will continue to be low.
Wu also said that as people tend to deal with pay cuts by not spending, the government should distribute "purchasing coupons" to the public in order to increase consumption.
He said that after the Econo-mic Development Advisory Con-ference, the nation reached a consensus on domestic economic issues and confidence in the nation returned. However, he expressed regret that the terrorist attacks on the US have had a negative impact on good economic prospects.
TIER officials also unveiled the results of a survey on domestic manufacturers, which show that the number of respondents who predicted that the economy will improve in the next six months decreased to 14.9 percent from 18.7 percent in the previous month, while those who think the economy will worsen increased to 38 percent from 22.9 percent in the previous month.
The Taiwanese passport ranked 33rd in a global listing of passports by convenience this month, rising three places from last month’s ranking, but matching its position in January last year. The Henley Passport Index, an international ranking of passports by the number of designations its holder can travel to without a visa, showed that the Taiwan passport enables holders to travel to 139 countries and territories without a visa. Singapore’s passport was ranked the most powerful with visa-free access to 192 destinations out of 227, according to the index published on Tuesday by UK-based migration investment consultancy firm Henley and Partners. Japan’s and
NATIONAL SECURITY THREAT: An official said that Guan Guan’s comments had gone beyond the threshold of free speech, as she advocated for the destruction of the ROC China-born media influencer Guan Guan’s (關關) residency permit has been revoked for repeatedly posting pro-China content that threatens national security, the National Immigration Agency said yesterday. Guan Guan has said many controversial things in her videos posted to Douyin (抖音), including “the red flag will soon be painted all over Taiwan” and “Taiwan is an inseparable part of China,” while expressing hope for expedited “reunification.” The agency received multiple reports alleging that Guan Guan had advocated for armed reunification last year. After investigating, the agency last month issued a notice requiring her to appear and account for her actions. Guan Guan appeared as required,
Japan and the Philippines yesterday signed a defense pact that would allow the tax-free provision of ammunition, fuel, food and other necessities when their forces stage joint training to boost deterrence against China’s growing aggression in the region and to bolster their preparation for natural disasters. Japan has faced increasing political, trade and security tensions with China, which was angered by Japanese Prime Minister Sanae Takaichi’s remark that a Chinese attack on Taiwan would be a survival-threatening situation for Japan, triggering a military response. Japan and the Philippines have also had separate territorial conflicts with Beijing in the East and South China
A strong cold air mass is expected to arrive tonight, bringing a change in weather and a drop in temperature, the Central Weather Administration (CWA) said. The coldest time would be early on Thursday morning, with temperatures in some areas dipping as low as 8°C, it said. Daytime highs yesterday were 22°C to 24°C in northern and eastern Taiwan, and about 25°C to 28°C in the central and southern regions, it said. However, nighttime lows would dip to about 15°C to 16°C in central and northern Taiwan as well as the northeast, and 17°C to 19°C elsewhere, it said. Tropical Storm Nokaen, currently
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