Tuesday, February 23, 2010

Taiwan's GDP Soars

Taiwan's economy grew at an annualized rate of 18% during the 4th quarter of 2009, fueled by China's demand for hi-tech products. The Taiwanese growth was much better than had been predicted, especially after following an 8.25% growth between July and October.

Despite the strong growth, Taiwan is very cautious about the durability of the growth. Taiwan relies on export growth and although there is a definite high demand from China, European and US demand has become pretty weak so in respect to the EU and US, the Taiwanese government will remain cautious in regards to the nation's growth.

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