Taiwan
Taiwanese Exports Surge On More Than Just Idiosyncrasies…
Highlights US-China tensions are escalating over the Taiwan Strait as Beijing tests the new Biden administration, yet financial markets are flying high and unprepared for a resumption of structurally elevated geopolitical risk. US restrictions on Chinese tech and arms sales, US internal…
The Money Has Already Been Made In Taiwan, Risks Are Lurking…
Taiwanese Exports At An All Time High, But Global Manufacturing Still Vulnerable…
The global semiconductor industry has been experiencing a record amount of IPOs and M&A deals in recent months. A flurry of IPOs and M&As in any industry often serves as a sign of a top in share prices (Chart 1). Chat 1Will Booming Semiconductor IPOs And M&As Mark A Peak In Share…
Taiwanese Export Strength: More Than Huawei…
Highlights The complexity of global supply chains and the competitive advantages that China holds will likely reinforce China’s status as the world’s largest manufacturing hub. Moving up of the manufacturing value chain will put a floor on China’s productivity growth. Increasing regionalized…
Robust Taiwanese Export Orders…
Highlights US-China relations in 2020 consist of a gentleman’s agreement to keep the Phase One trade deal in place and aggressive maneuvering in every other policy area. Stimulus is unlikely to be curtailed in the US or China yet, which means brinkmanship will eventually lead to a negative…
Highlights The strength in global semiconductor sales in recent months has been due to one-off factors stemming from pandemic-related lockdowns. As the one-off demand surge subsides, global semiconductor sales will decline modestly toward the end of this year. In the near term, global…