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192 Taiwan Development Perspectives 2009 Table 4 Impact of Asian-Pacific Economic Integration on Taiwan’s Economy Taiwan+China +Hong Kong Taiwan+USA Taiwan+Japan ASEAN+5* Exports(%) Taiwan 13.990 4.849 4.780 18.283 China 11.253 0.0077 0.160 41.028 Hong Kong 5.921 0.1999 -0.077 6.370 USA 0.183 2.778 -0.069 -0.424 Japan -0.508 0.956 1.296 13.253 Korea+ASEAN 0.018 0.060 0.323 14.302 Other Areas 0.029 0.314 0.057 -0.093 Imports(%) Taiwan 22.786 7.494 7.815 27.656 China 13.346 0.129 0.132 52.883 Hong Kong 6.938 -0.021 0.050 7.646 USA 0.021 2.441 -0.197 -0.803 Japan 0.489 -0.069 2.645 20.673 Korea+ASEAN -0.455 0.327 -0.108 16.257 Other Areas -0.035 0.207 0.003 -0.305 Real GDP(%) Taiwan 3.310 2.492 2.534 3.255 China 1.676 0.010 -0.006 2.650 Hong Kong 0.990 0.051 0.041 1.024 USA -0.004 1.458 -0.006 -0.020 Japan -0.004 0.007 2.003 2.069 Korea+ASEAN -0.048 0.020 -0.030 2.981 Other Areas -0.005 0.010 -0.014 -0.043 Social Welfare(US$ million) Taiwan 14,126 7,174 7,561 12,981 China 11,464 415 -424 17,950 Hong Kong 3,868 -468 65 3,561 USA -578 147,441 -1,400 -4,175 Japan 4,345 -5,856 86,808 108,879 Korea+ASEAN -2,746 2,084 -2,751 20,846 Other Areas -3,083 4,363 -5,301 -15,101 Source:Chen, Kun-ming, Chou, Ji, Lin, Chia-ching(2008), Impact of normalizing cross-strait economy and integration in Asian pacific area on Taiwan’s economy, Page 29, 30. *:ASEAN+5 includes the members of ASEAN( Indonesia, Malaysia, Philippine, Singapore, Thailand, and Vietnam) , Taiwan, China, Hong Kong, Japan, and Korea.
Impact of Closer Cooperation with China on Taiwan’s Economic Development 193 V. Conclusion China is the fourth top exporter of the world. It is also the third largest economy in the world. It holds US$1.9 trillion in foreign exchange reserves. It is also the largest powerhouse of the world as well as one of the most important consumer markets. On the other hand, Taiwan used to be the largest exporter of umbrellas, toys, shoes, and textiles. Now, it is the largest manufacturer of motherboards, notebook PCs, wafers, and IC products. Closer cooperation makes the two economies complement each other. Formation of a Taiwan-China-Hong Kong free trade zone is the first step to strengthen that closer economic cooperation for mutual benefit. References: American Chamber of Commerce in Taipei (2008), Taiwan White Papers, May 2008. turing Industry Domestic Investment, Nov. 2008. Tan, Ching-yu (2008), “Evaluation of Cross-Strait Economic Cooperation Framework and its priority topics, published as Cross-Strait Economic Cooperation Framework Conference of Institute of Taiwan Studies”, Chinese Academy of Social Sciences, Nov. 3, 2008. Tan, Ching-yu (2008), “The Impact of the second Chiang-Chen Talks on Taiwan’s Economy”, National Policy Foundation Analysis, Nov. 13, 2008. Tan, Ching-yu (2008), “The Circumstances of step-by-step opening of direct charter flights and the impact of direct transportation across the Taiwan Strait on Taiwan’s Economy”, National Policy Foundation Research. The European Chamber of Commerce Taipei (2008), 2007-2008 Position Papers, Nov 2008. American Chamber of Commerce in Taipei, Taiwan White Papers , May 2007. Chen, Kun-ming, Chou, Ji, Lin, Chia-ching(2008), “Impact of Normalizing Cross-Strait Economy and Integration in Asian Pacific Area on Taiwan’s Economy”, Paper Presented “The Conference on the Impact of Direct Transportation on Economics in Taiwan” Held by Department of Economics, Shih Hsin University, Oct. 4, 2008. Lin, Chu-chia, and Tan, Ching-yu (2006), “Direct Transportation across the Taiwan Strait”, Taiwan Development Perspectives, 2006, National Policy Foundation. Mainland Affairs Council (2008), “The Results of the Second Chiang-Chen Talks: Air Transport”, Nov. 4, 2008. Mainland Affairs Council (2008), “The Results of the Second Chiang-Chen Talks: Sea Transport”, Nov. 4, 2008. MOEA (2008), The Survey of Taiwan Manufac-
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CONTENTS Preface Overview ix xi Foc
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Agriculture and Fisheries Impact of
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CHUANG, Yih-chyi( 莊奕琦 ) Pro
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TAN, Ching-yu( 譚瑾瑜 ) Associ
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enth effort on the part of the Foun
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ills pertinent to parliamentary ref
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xiv
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