Officials say that the ongoing coronavirus outbreak centered in China is unlikely to affect Taiwan’s economy.
On Thursday, Deputy National Development Council Minister Cheng Cheng-mount told the Cabinet that predictions the outbreak will cause a 0.5% dip in economic growth are unlikely to come true. Cheng said that if China’s growth slows by 1%, Taiwan’s growth would drop by only 0.29%.
Cheng also spoke about the poor performance of Taiwan’s stock market Thursday. The exchange posted its largest-ever drop on the first day of trading after a Lunar New Year holiday. Cheng said that the drop is only a temporary reaction to the situation facing the electronics industry in Wuhan, where the coronavirus outbreak began.