Taipei, Aug. 15 (CNA) On the back of a restructuring in the global supply chain amid escalating trade tensions between Washington and Beijing, Taiwan’s investments in the countries under the “New Southbound Policy” surpassed investments in China in the first half of this year, Deputy Economics Minister Chen Chern-chyi (陳正祺) said Tuesday.
Speaking at the Taiwan-ASEAN-India Strategic Investment Partnership Forum held in Taipei, Chen said that under the New Southbound Policy, Taiwan’s investments in the 18 countries under the policy in the first six months of this year hit US$2.126 billion, compared with US$1.9 billion invested in China.
Since 2016, when President Tsai Ing-wen (蔡英文) of the independence-leaning Democratic Progressive Party (DPP) took office, the government has launched the New Southbound Policy in a bid to reduce Taiwan’s economic dependence on China.
The policy…
