Economics
Taiwan’s GDP Growth Outpaces China’s for First Time in 30 Years
- Economy expanded 2.98% in 2020, compared with China’s 2.3%
- Surge in global demand for chips fueled record tech profits
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Taiwan’s economic growth outpaced that of China’s for the first time in 30 years, helped by its early control of the virus and stellar export performance.
Gross domestic product expanded 2.98% last year, official data showed Friday, compared with China’s 2.3% rise. Growth was also faster than the 2.55% median estimate in a Bloomberg survey of economists.