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Taiwan’s exports to the US in the first quarter beat shipments sent to mainland China, with analysts pointing to a ‘strategic plan’ by Washington to construct and lead a world supply chain and market order.
Mainland China is seeking to further integrate with Taiwan economically after Taiwanese approved investments fell to a 22-year-low in 2023.
Taiwan’s exports expanded for a third straight month in January, with shipments of electronic components rising by 7.5 per cent compared to a year earlier.
December was not kind to Taiwanese manufacturers, and for all of 2023 the island’s export orders shed 15.9 per cent, year on year, to US$561 billion.
Mainland China uses import bans and economic ties to send political message to Taiwanese voters while businesses on the island look to sell products elsewhere as they brace for worsening cross-strait tensions.