Taiwan's new leader seeks to diversify economy

Taiwan’s overreliance on exporting hardware components amid slumping global demand leaves its new government looking for ways to diversify the economy.
Landslide: Tsai Ing-wen
Landslide: Tsai Ing-wen

A new chapter is starting for Taiwan, not just politically but also economically.

The domestic political dust has now mostly settled, following the opposition Democratic Progressive Party’s landslide victory in January and the election of the country’s first female president, Tsai Ing-wen. The new government’s challenge is now to help remould the island’s industrial landscape.

Taiwan is an important link in the global information and communications technology supply chain, but it is struggling. The island is too dependent upon selling electronic equipment like integrated circuits and computer peripherals. These make up 40% of its outbound sales, which declined for a 12th consecutive month in January.

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