How Taiwan Beat China To Emerge as Asia’s Top-Performing Economy in 2020


Source: visiontimes.com visiontimes.com

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0 Taiwan is a powerhouse in the production of semiconductors. (Image; Dreamstime.com © Gennady Kurinov ) For the first time in 30 years, Taiwan’s economy raced past that of China’s, growing 3.11 percent in 2020, exceeding China’s 2.3 percent expansion according to its National Statistics bureau. The last time Taiwan’s economy grew faster than that of China was in 1990 when the island’s 5.5 percent growth rate beat its larger neighbor’s 3.9 percent pace. Strong exports — particularly of semiconductors — helped to offset drags from the Covid-19 pandemic. The island’s semiconductor sector grew an astounding 22.1 percent in 2020...