cens logo


TIER warns of prosperity decline post-boom due to trade war and other factors

Sep 25, 2018 | By CENS

With the trade war between the U.S. and China escalating, Taiwan Institute of Economic Research (TIER) has sounded the alarm as forecasts for both manufacturing and service indexes tumbled. The think tank warned that Taiwan's business climate will likely see a sudden down drop and urged increased awareness of the potential impact of the trade war would have on Taiwan's exports.

The think tank also named currency trouble from emerging markets as a second factor that would result in a sudden or gradual worsening of economic growth.

Global growth has increased since last year, however TIER pointed out there are changes beginning to show in the global economic situation, largely due to the different growth posed by each country, as well as rising international gas prices, the turbulent U.S.-China trade war, the increasingly volatile financial situation in emerging markets, are all factors that could influence the global economic climate for good or worse.

Director of TIER Prosperity Forecast Center, Gordon Sun said with the trade war not yet settled, the uncertainty has not only reflected in the finance sector, but also forecasts for the service index as well. Manufacturing sectors are much more conservative about the business climate in the future six months.

Sun added that with index points in both manufacturing and service sectors in decline, he suggested that Taiwan's ride on a prosperous business climate could be coming to a close.

Taiwan's economic growth rose from a bad way to now expanding for 30 months, Sun said, naming February 2016 as the last time Taiwan's growth was at an all time low. Up to August this year, the island has seen an on-going expand for 30 months, citing that Taiwan has now reached its peak and will face decline. “The questions is whether it would be a gradual decline or a downright spiral.”

In terms of the U.S.-China trade ware, deputy director of TIER Prosperity Forecast Center Chiu Da-Shen said the U.S. President Donald Trump has emphasized “fair trade,” which includes urging competitors to remove state subsidies for enterprises, cracking down on intellectual property theft and currency manipulation.

Chiu noted that Trump is also especially focused on fair imposed tariffs. The U.S. recently imposed 10-percent tariffs on an additional USD$200 billion in Chinese imports. However, he pointed out that China has imposed 9.9% in tariffs on average for each country, meaning that the U.S.' actions were only averaging out the numbers.

The current period can be viewed as a grace period, Chiu said, as the U.S. government would consider accordingly to hike tariffs up to 25 percent starting next year.

However, Beijing has retaliated with its white paper, Facts about the China-US trade dispute and China's stance.” Chiu said the white paper signifies that China will not be backing down any time soon and that will likely invoke the U.S. President Trump's anger, meaning there are high chances that the U.S. will continue to step up its efforts on the remaining $267 billion worth of Chinese imports.

news-photoUnited Daily News Group File Photo

Original Article: Economic Daily News


Industry In-Focus

China's New Face of E-Commerce Sees Rise of Smart Lockers

Dec 10, 2018

With the rise of the “unmanned economy” in China, new trends in the self-pickup market like the “smart shelf” are giving way to the “smart locker,” which has combined Internet of Things and AI technology. Chinese e-commerce JoyBuy Go has built a reputation based on its embracement of unmanned economy, its “smart shelf” that was introduced to the public last November has seen an upgrade to “sma...


Local Manufacturing Sector Flashes 5th Sluggish Growth

Nov 29, 2018

With the ongoing U.S.-China trade dispute, uprooted financial sector, sluggish sales for the new Apple smartphone, the manufacturing industry sees a pessimistic forecast for the next six months. This has led to the local manufacturing sector to flash a “yellow-blue” light in October, said Taiwan Institute of Economic Research (TIER) on Thursday, making this the fifth consecutive month of slugg...


Archee International Cements Position as Go-To Rep of Auto Suppliers

Nov 27, 2018

Archee International Co., Ltd. is a young and passionate company specialized in all kinds of auto parts including a wide range of lighting products, auto mirrors, AM body parts, replacement components, and cooling systems. Archee has cemented its position as the go-to representative for manufacturers of products such as replacement automobile parts, performance automobile parts, and design par...



Industry Reports

China's New Face of E-Commerce Sees Rise of Smart Lockers

Dec 10, 2018

With the rise of the “unmanned economy” in China, new trends in the self-pickup market like the “smart shelf” are giving way to the “smart locker,” which has combined Internet of Things and AI technology. Chinese e-commerce JoyBuy Go has built a reputation based on its embracement of unmanned economy, its “smart shelf” that was introduced to the public last November has seen an upgrade to “sma...


Local Manufacturing Sector Flashes 5th Sluggish Growth

Nov 29, 2018

With the ongoing U.S.-China trade dispute, uprooted financial sector, sluggish sales for the new Apple smartphone, the manufacturing industry sees a pessimistic forecast for the next six months. This has led to the local manufacturing sector to flash a “yellow-blue” light in October, said Taiwan Institute of Economic Research (TIER) on Thursday, making this the fifth consecutive month of slugg...


Archee International Cements Position as Go-To Rep of Auto Suppliers

Nov 27, 2018

Archee International Co., Ltd. is a young and passionate company specialized in all kinds of auto parts including a wide range of lighting products, auto mirrors, AM body parts, replacement components, and cooling systems. Archee has cemented its position as the go-to representative for manufacturers of products such as replacement automobile parts, performance automobile parts, and design par...



Supplier News

Antrc Industrial Corp. Aims for High-End Auto Parts Industry for Asian Markets

Dec 05, 2018

Antrc Industrial Corp. focuses on manufacturing plastic parts, metal parts and other automotive parts in the aftermarket industry. The firm can roll out parts and products that match with customers’ needs and the industry pulse in this changing and competitive market. Having deep roots in the AM industry, Antrc can deliver with its complete supply chain, from designing, molding making and finally...

ANTRC INDUSTRIAL CORP.


Brake Maker Nan Hoang Rides on Biz Upswing to Offer More Clients the Best

Dec 04, 2018

For more than five decades, Nan Hoang Traffic Instrument Co., Ltd (NHC) has been one of the major manufacturers of specialty vehicle friction materials in Taiwan and around the world. Chairman Austin Cheng has been carrying out their “double-arrow developing plan” for this year. In one aspect, through its private label YangPo, NHC aims to adopt a more effective marketing strategy for selling own-...

NAN HOANG TRAFFIC INSTRUMENT CO., LTD.


Intime's Products Sought-after by Professionals Worldwide

Dec 04, 2018

Founded in 2013, Intime Auto Parts Co., Ltd., specializes in making performance brake calipers and performance shock absorber systems. Intime takes pride of its “n&b performance” series. The firm's n&b ceramic brake pads, which are made of low metallic NAO material, is capable of functioning without damaging the brake discs. Also notable is that the brake dust can be removed easily from the al...

INTIME AUTO PARTS CO., LTD.



Insiders' Views

Part 1 Megvii Technology Founder Interview: Face++ AI Facial Recognition sets eye on Asia, starting with Taiwan

Sep 07, 2018

Using facial recognition to remove security checks and recognizing criminals sounds like technological applications out of a movie, though much of it is already implemented in everyday life. Having been founded for only seven years, Megvii Technology Limited, or more commonly known for its facial recognition and AI application Face++, owns critical technology by combining both, and now, recently ...

FOXCONN TECHNOLOGY


Megvii Technology Founder Interview Part 2: Face++ AI Facial Recognition sets eye on Asia, starting with Taiwan

Sep 07, 2018

Tang Wenbin, founder and CEO of Megvii Technology, will be visiting Taiwan next week, but accepted an overseas interview with Economic Daily News on Sept. 6. This is the second installment of the interview. Aiming for a complete application; forming a city’s “brain” Q: What are the goals and strategy for the next phase? A: When the company first started off, we had to find a way to impl...

FOXCONN TECHNOLOGY


MPN's Editor-at-large Provides Holistic, In-depth Insights into U.S. Market for Powersports

Industry veteran suggests Taiwanese suppliers establish market presence as priority

May 24, 2018

One of the concurrent events held during the 13th Taiwan International Motorcycle Industry Show (Motorcycle Taiwan 2018), the seminar titled “Turning New U.S. Powersports Business Opportunities” was rounded off with overwhelming acclaim from the audience as a resounding success, mostly thanks to the excellent quality of the lecturers invited, all of whom are seasoned veterans and experts at high ...



Exhibition Highlights

The 19th Fastener Trade Show Suzhou - China's leading one-stop purchasing platform for fasteners, machinery and supporting products

Dec 05, 2018

Highlights of the Show: Highlight 1: Large Scale 12,000 sqm exhibition area at 2 exhibition halls, expected 400 exhibitors & 12,000 professional visitors Highlight 2: International 50% of the exhibitors are export-oriented companies, visitors cover over 30 countries and regions Highlight 3: One-stop Platform for Purchasing Full range of exhibits, including fasteners, equipment, molds ...


CENS.com Makes Biz Talks Easier with B2B Matching at Automechanika Shanghai

Nov 30, 2018

Automechanika Shanghai, Asia’s biggest automotive parts, repair and maintenance, and auto products show, kicked off on Nov. 28 at the Shanghai National Exhibition and Convention Center and will last until Dec. 1 for four days. Expectations suggest the show to attract 140,000 professional visitors. As always, Economic Daily News (CENS.com) has attended another year of Automechanika Shanghai and co...


TTG Gives Taiwanese AAPEX Exhibitors a Leg Up

Nov 01, 2018

Taiwan Transportation Equipment Guide (TTG), having been founded for 33 years, is Taiwan’s first magazine dedicated to professional auto parts. The magazine can be obtained at the Economic Daily News (CENS.com) booth on the AAPEX show grounds. Combined with online and hardcover publications, CENS.com aims to boost Taiwan’s auto parts suppliers’ promotion to its highest. Since its first publica...