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SOFT LANDING FOR CHINESE ECONOMY GOOD FOR TAIWAN: OFFICIAL.
TAIPEI, May 3 Asia Pulse - A soft landing for the mainland Chinese economy would be beneficial for the rest of the world, including Taiwan, which relies heavily on mainland China for its exports, a government official said Thursday.
Ho Mei-yueh, vice chairwoman of the Cabinet-level Council for Economic Planning and Development (CEPD), said that it would be good for the entire world if the mainland adequately handles its overheating economy. Taiwan's trade dependence on the mainland market has surged to more than 30 per cent and it has replaced the United States as the country's leading export market.
Should the mainland authorities succeed in cooling off an investment boom that is creating price hikes and straining a fragile financial system already troubled by bad debts, it is expected to have a positive impact on the international economy in the long term, despite short-term negative effects, Ho said.
Under such circumstances, she urged the public not to overreact to temporary falls in the domestic stock market. As long as the mainland has a soft landing, the present woes will soon be over, she predicted.
The weighted index, the domestic bourse's key barometer, plunged by 172.54 points to ...
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Source: HighBeam Research, SOFT LANDING FOR CHINESE ECONOMY GOOD FOR TAIWAN: OFFICIAL.