Taiwanese business leaders have made mixed projections for the economy in the second half of this year.
General Chamber of Commerce (GCC) Chairman Lai Cheng-I is staying optimistic. He said that Christmas is just around the corner, and that is likely to boost demand in the fourth quarter.
“We don’t need to be overly pessimistic," said Lai. "Business should pick up by the end of this year. The US economy has gradually recovered, and all of China’s economic indicators, including the value of the RMB, seem to be slowly stabilizing. The worst has already passed in the global economy. It won’t get any worse. I estimate that business will gradually recover in the second half of this year and transition to stable growth. Things will get better next year.”
However, Chinese National Federation of Industries (CNFI) Secretary-General Tsai Lian-sheng was not as upbeat. Tsai said that the second half of the year is supposed to be the peak season for exports. But so far, he said, businesses are not taking many orders. He said that would have an impact on economic growth, and that signs of that are already visible in the stock market. Tsai also said that investment has been stagnant.