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Taiwan CEOs optimistic about 2020: CommonWealth Magazine

Despite local optimism, concern over U.S.-China trade war remains

CEOs express optimism about Taiwan's economy in 2020.

CEOs express optimism about Taiwan's economy in 2020. (CNA photo)

TAIPEI (Taiwan News) — The annual CommonWealth Magazine poll of 2,000 Taiwanese CEOs has that found almost 60 percent are optimistic about the island’s economic outlook in 2020, the highest percentage in nine years.

The survey has been a year-end feature for 11 years, conducted during the Euro crisis, Taiwan's Economic Cooperation Framework Agreement (ECFA) with China, Donald Trump’s election as president of the United States, Brexit, and the U.S.-China trade war.

While concern about the ongoing trade war remains, the poll saw optimism about Taiwan’s economic and investment environment in the next year.

In last year's survey, less than a third of Taiwanese CEOs expressed a positive view about the island’s future, while this year, that figure surged to 56.7 percent, showing the proportion of optimists overtaking the pessimists for the first time in seven years, CommonWealth reported.

In contrast, the number of CEOs predicting good prospects for China dropped to 15.1 percent, the lowest level since the magazine launched the survey. Of the CEOs polled, 35.2 percent said their companies would increase their production level in Taiwan, while 28.5 percent said they would do the same in Southeast Asia.

The magazine also found that since 2014, about 60 percent of the surveyed CEO's companies had not invested overseas. Southeast Asia overtook China last year as the prime target of Taiwanese investment, leaving North America in a distant third place.