TAIPEI (Taiwan News) — Government spending, COVID-19 vaccinations, and investments in technology will result in a positive performance for the world economy in 2021 and 2022, Foxconn Technology Group founder Terry Gou (郭台銘) said Friday (March 12).
The tycoon made the comments while speaking with journalists during a visit to the grave of his late first wife in Sanxia, New Taipei City, CNA reported.
Gou said he had expected the effects of government spending programs that offset the impact of the coronavirus pandemic to fizzle out at the end of last year, but instead the global economy picked up again and continued on a positive path during the first quarter of this year. The effects of the spending programs will continue to help the recovery, he predicted.
Large-scale vaccination campaigns will help economies restart, Gou added. He mentioned airlines, travel, tourism, and transportation as the sectors most likely to benefit, while the stay-at-home economy might see a decline in demand.
The high-tech and electronics sectors will also continue to improve since millennials have been raised with gadgets, computers, and smartphones at their disposal, Gou said. He added that their inability to live without electronics would benefit Taiwan and the global economy equally.
Turning to the water shortage recently facing semiconductor manufacturers, Gou advised the government to call a national conference to discuss the next 50 years of economic development and the use of land in Taiwan.