Xie Jinhe: Taiwan's exports hit a record high, reaching US$82.4 billion in August, and are expected to become the world's fifth largest exporter by the end of the year

Xie Jinhe, Chairman of Caixin Media Group (file photo)

[Instant News/Comprehensive Report] Taiwan’s exports hit a new historical record of US$82.4 billion in August this year. In this regard, Xie Jinhe, chairman of Caixin Media Group, said that from the perspective of export structure, Taiwan, South Korea, and the United States form a subtle triangular problem. Taiwan’s export triangular problem does not need to be too submissive to South Korea.

Xie Jinhe said in a Facebook PO post that Taiwan's exports hit a new historical record of US$82.4 billion in August this year, and US$574.34 billion in the first eight months. Both sides grew by more than 44%, which is a new historical record. If Taiwan maintains the figure of US$80 billion per month for the remaining four months of this year, its total exports this year will reach US$900 billion, and it is likely to become the world's fifth-largest exporter after China, the United States, Germany, and South Korea. This is a new milestone.

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Xie Jinhe pointed out that from the perspective of export structure, Taiwan, South Korea, and the United States form a subtle triangle. Taiwan's exports to the United States in the first eight months were US$180.319 billion, an annual increase of 53.96%, with a surplus of US$140.77 billion, and the United States' trade with Taiwan accounted for 31.4%. I wonder what Trump would say to Taiwan if he saw this large surplus?

Xie Jinhe continued to point out that the other is that Taiwan’s exports to South Korea were US$22.9 billion, but imports were as high as US$65.171 billion, leaving Taiwan with a deficit of US$42.2 billion. This figure shows that the United States is Taiwan's best surplus country, and South Korea is Taiwan's largest deficit country. This is because Taiwan conducts a large number of HBMs from Hynix and Samsung. From another perspective, Taiwan's large surplus with the United States hides Taiwan's economic deficit with South Korea.

Xie Jinhe analyzed that the result is that Taiwan's deficit with South Korea is included in Taiwan's surplus with the United States. If South Korea treats Taiwan well, Taiwan can barely support it. However, South Korea has a very bad attitude towards Taiwan. Li Zaiming does not take Taiwan seriously at all. At this time, Taiwan does not need to be too polite to South Korea.

Xie Jinhe said bluntly that some people suggested that TSMC could consider extending to HBM, or it could also vigorously assist Micron and transfer HBM procurement to Micron! Taiwan should think carefully about reducing its deficit with South Korea and not be too polite to South Korea!

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