TAIPEI (Taiwan News) — Over the past seven years, Taiwan has varied its export markets and cut its reliance on the Chinese economy, the National Development Council (NDC) said Tuesday (Jan. 2).The statement was a response to a former NDC Minister Kuan Chung-ming (管中閔), who questioned the government’s achievements in making Taiwan’s economy more independent of China, per CNA. The NDC replied Tuesday that since 2015, when Kuan left the government department, exports to China including Hong Kong declined from 39.5% to 35.4% of total exports.The NDC also said that any rise in export value was the result of an increase in Taiwan’s overall exports. In 2023, total exports likely exceeded US$400 billion (NT$12.39 trillion), compared to US$284.4 billion in 2015, so it was only normal that exports to a particular country had also increased.Kuan was making a mistake by only looking at the rise in export value, and not considering the share of different export markets, according to the NDC. The COVID-19 pandemic and the reorganization of supply chains have led to Taiwan diversifying its trading partners.In 2016, only 12.1% of the country’s exports had the United States as their destination, but by 2023, that proportion had increased to 17.3% for the first 11 months of the year.Another example of diversification was that Taiwanese investments in China showed a sharp decline from 50.1% in 2015 to 11.5% last year, the NDC said. In contrast, investments in Southeast Asian countries had reached 19.3% of Taiwan’s overall foreign investments.By Matthew Strong, Taiwan News, Staff Writer2024/01/03 13:58 (ICE TAIPEI)

Fonte notizia: Organi di Stampa - Taiwan News