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TAIWAN TO ENCOUNTER NEW ECONOMIC PROBLEMS IN 2002: CEPD.
TAIPEI, Jan 1 Asia Pulse - Although the global economy is expected to swing upward in the middle of next year, it might not help Taiwan's exports and job-creation as much as it has done in the past, according to an analysis released Monday by the Council for Economic Planning and Development.
The analysis blames the slow pace of the island's industrial transformation and upgrading for the muted effects the expected turnabout of the international economy will have on the local economy.
The analysis, titled "National Development Program for 2001," points out that the economy of the United States and other leading countries in the world are forecast to rebound in light of the loose monetary policy they have adopted since the Sept. 11 terrorist attacks on the United States.
The economy of Taiwan is expected to also improve, riding on the worldwide upward trend, since it has followed similar strategies in lowering interest rates and increasing expenditure on public projects.
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