TAIPEI (Taiwan News) — The Chung-Hwa Institution for Economic Research (CIER) on Friday (Dec. 10) held the 2023 Global Economic Outlook Forum in Taipei. A guest speaker at the forum was Deputy Minister of the National Development Council (NDC) Kao Shien-quey (高仙桂) who discussed the resilient character of Taiwan’s national economy.

Contrary to media reports that claim Taiwan is one of the most dangerous places on earth, the country’s economic outlook remains stable, said Kao. The deputy minister said that despite comparisons with the war in Ukraine and its related economic impact, she is confident that Taiwan’s position as a key player in the global supply chain will remain secure, reported UDN.

Kao said that although the international community is increasingly worried about the threat of an attack from China, the political tension has not stopped foreign investment in Taiwan’s economy. “Taiwan has a lot more confidence (in itself) than foreigners have,” said Kao.

As prominent examples, Kao noted the recent decision by Dutch chipmaker ASML to establish a chip production facility in Taiwan, along with news that U.S. chipmaker Micron will be expanding production at its Taichung fab starting next year.



Kao said that if China really did choose to attack Taiwan, the economic consequences would be great for the entire world, and especially for China. Given that reality, Taiwan remains absolutely committed to maintaining peace across the Taiwan Strait, she said.