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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (4397)	8/21/2001 12:22:01 PM
From: Raymond Duray	Read Replies (1) of 33421

Domino Theory? Hi John, EETimes just reported that Taiwan has slipped into recession: eetimes.com Text: Crippled by poor exports of information technology, Taiwan's economy slipped into recession in the second quarter, according to government figures released Friday (Aug. 17). The island's gross domestic production contracted 2.35 percent, much worse than economists expected and the poorest performance in 26 years. The surprise results prompted the government to revise its annual growth figure to -0.37 percent, down from the government's May estimate of 4 percent. At the heart of the drop is rapidly decreasing global demand for Taiwan's electronics products, ranging from notebook and desktop PCs, motherboards and CD-ROM drives to scanners and monitors. Taiwan's hardware exports fell to $17.1 billion in the first half of this year, a 13 percent decrease from the the same period last year, according to Taiwan's Institute for Information Industry. The Institute is predicting Taiwan's IT hardware sector will face an 8 percent decline in production value to $37.7 billion in 2001. Taiwan's exports, which are heavily concentrated in the electronics sector, account for more than half of its gross domestic production. End text. I reckon we ought to be grateful that we aren't quite as far along as Formosa toward being an information economy here stateside.. <w> -Ray

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