Taiwan's Economy Shifts Towards Southeast Asia
- FDI from Taiwan to top 6 Southeast Asian nations has doubled
- Taiwan seeking to reduce its export dependence on China
Taiwan’s new president is leading a charge to boost economic ties with Southeast Asia, and away from mainland China. The reality is that the shift is already well underway.
In a case of economics moving faster than politics, foreign direct investment by Taiwanese companies into the six largest Southeast Asian economies doubled in the past five years, according to Singapore-based DBS Group Holdings Ltd. That’s even before the government began pushing its “New Southbound” initiative to target markets in the Association of Southeast Asian Nations as companies face declining returns in mainland China.