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BackThis is the first time since the liberation of Taiwan! Exports this year are certain to overtake Japan and are expected to rank seventh in the world
This is the first time since the liberation of Taiwan! Exports this year are certain to overtake Japan and are expected to rank seventh in the world
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自由时报19 minutes agoBusiness3 min readChinaView original

This is the first time since the liberation of Taiwan! Exports this year are certain to overtake Japan and are expected to rank seventh in the world

The Ministry of Finance announced that exports in October reached a record high of US$96.76 billion in a single month; exports in the first ten months reached US$758.29 billion.

Quick Look

Tsai Mina, director of the Statistics Department of the Ministry of Finance, said that exports in the first ten months of this year reached 758.29 billion US dollars, and the annual export scale has definitely surpassed Japan's, which is the first time since Taiwan's independence, and the global ranking is expected to jump to 7th or 8th, rewriting historical records.

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Why It Matters

The Ministry of Finance announced that exports in October reached a record high of US$96.76 billion in a single month, and exports in the first ten months reached US$758.29 billion.

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Cai Meina, director of the Statistics Department of the Ministry of Finance, said that this year's export scale will definitely surpass Japan's, which is the first time since Taiwan's independence.

[Reporter Zheng Qifang/Taipei Report] The Ministry of Finance announced that exports in October were US$96.76 billion, continuing to hit a record high in a single month; exports in the first ten months reached US$758.29 billion, continuing to set new highs in the entire year. Mina Tsai, director of the Statistics Department of the Ministry of Finance, said that there is no doubt that exports will exceed US$900 billion this year and will rewrite two historical records. First, the annual export scale will definitely surpass Japan, which is the first time since Taiwan's independence; second, the global ranking of export scale will make a big leap this year, jumping to 7th or 8th in the world, rewriting historical records.

Tsai Mina pointed out that in the first nine months of this year, except for February, Taiwan's exports were higher than Japan's. The gap in the first nine months was US$74.3 billion. "With the remaining three months, Japan has no way to recover and is unlikely to catch up with us." This year's exports will definitely exceed Japan's. This is the first time that Taiwan's export value has surpassed Japan's since the liberation. She said that Japan itself has some problems. Last year its exports were surpassed by Hong Kong, and this year it was surpassed by Taiwan and South Korea.

As for the second historic record, she pointed out that Taiwan's export world ranking this year has confirmed the Great Leap Forward, which is expected to rewrite historical records. The best performance in the past was ranking 9th in the world from 1984 to 1987, which mainly reflected the rise of the domestic PC industry at that time, coupled with the substantial appreciation of the yen after the Plaza Accord, which brought about the transfer order effect. Judging from the data for the first eight months of this year, Taiwan is only behind China, the United States, Germany, the Netherlands, Hong Kong and South Korea. This situation is not expected to change by the end of the year. This year, Taiwan's export ranking will leap forward to seventh or eighth place, rewriting historical records.

Regarding the impact of the U.S. midterm elections on the development of AI, Cai Mina said that AI development is a major trend. Under the new Cold War situation, the United States must ensure that it is the first in the world in all aspects. This is the strategic pattern of the United States; therefore, after the midterm elections, how to balance the interests of the state and the interests of the country? To strike a balance between AI and AI, the United States will think internally; moreover, individual manufacturers will not sit still and wait, and will move their manufacturing bases overseas. In addition, in the global competition, many countries are competitors. Whether Europe and China can take the lead in the AI ​​competition is also a question that the United States must consider.

She believes that the more advantageous point is that AI is a major trend that cannot be challenged. Almost everyone in the industry knows that the rapid development of AI is an inevitable trend, and Taiwan has considerable competitive advantages in the AI ​​industry chain. If it is a major trend, no matter how various countries fight, Taiwan will always be the "arms dealer" in the national AI competition. Therefore, from the perspective of this long-term development axis, Taiwan's status should not be greatly affected.

What to Watch

AI outlook — possibilities, not facts

  • This year's export volume is certain to exceed Japan's and set a record for the first time since the liberation.

    Very likely · Within months

Open Questions

  • Will the final global export ranking for this year be 7th or 8th?
  • What are the specific policies for the AI ​​industry after the U.S. midterm elections?

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This article was originally published by 自由时报.

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