Alexa

Commercial Times: The truth behind Taiwan's export growth

Commercial Times: The truth behind Taiwan's export growth

When releasing its monthly export statistics Tuesday, the Ministry of Finance said Taiwan's export volume of US$24.05 billion for August was the second highest recorded since the outbreak of the global financial crisis in 2008.
On the same day, however, the Bureau of Foreign Trade noted that Taiwan's export volume during the first eight months of this year was 1.48 percent lower than the same period in 2008, which was inferior to South Korea's 2.85 percent increase.
At a time when government agencies tend to report only the good news, the bureau's courage to speak the truth is especially valuable.
Over-reliance on contract manufacturing was the main reason why Taiwan experienced a slump in exports and high inventory levels in the manufacturing sector during the financial crisis. It's sad that the government luxuriates in Taiwan's 13 percent economic growth and 40 percent export growth for the first half of 2010 but does nothing to address the long-time structural problem.
We believe that if the top leadership of the government is willing to hear the truth and encourage its staff to speak the truth, the civil service system will become the strongest driving force behind Taiwan's economic development. (Editorial abstract -- Sept.
11, 2010) (By Y.F. Low)




Updated : 2021-03-01 15:52 GMT+08:00