FREE: JOIN 100,000+ READERS   

≡ Menu
SOVEREIGN MAN

Big changes to Taiwan’s 2012 growth forecast

taipei sunset

The global recession has caused a sharp decrease in demand for products worldwide. Big manufacturers like China and Japan have all revised this year’s growth forecasts. Despite the depression taking place mainly in Europe, large and small asian countries alike have felt the macroeconomic impact of the sovereign debt crisis. BBC News reports on Taiwans current contraction and the revisions made to their prospective growth:

Taiwan’s economy contracted in the three months to the end of June, as the global slowdown weighed on export-dependent countries.

The economy contracted 0.16% compared with the previous year, the statistics agency said. Analysts were expecting slight growth.

The agency also cut its forecast for full year growth to 2.08% down from 3.03%.

Asian countries are reeling from a drop in demand from a key market, Europe.

“Given how weak Western markets remain, Beijing’s loosening must start to lift mainland demand soon if Taiwan is to achieve a meaningful recovery in second half of 2012,” said Donna Kwok from HSBC.

The government in Beijing has started taking steps to spur lending by cutting key interest rates and fast-tracking investment projects.

Continue to the full article…

Our goal is simple: To help you achieve personal liberty and financial prosperity no matter what happens.

If you liked this post, please click the box below. You can watch a compelling video you’ll find very interesting.

Will you be prepared when everything we take for granted changes overnight?

Just think about this for a couple of minutes. What if the U.S. Dollar wasn’t the world’s reserve currency? Ponder that… what if…

Empires Rise, they peak, they decline, they collapse, this is the cycle of history.

This historical pattern has formed and is already underway in many parts of the world, including the United States.

Don’t be one of the millions of people who gets their savings, retirement, and investments wiped out.

Click the button below to watch the video.

Comments on this entry are closed.

Read previous post:
Gold Bars Coins
Gold Investing: Believe the fundamentals, not the hype

Long time gold skeptic Warren Buffett must be smiling right now as over the first six months of 2012, the...

Close