Foreign Trade is Taiwan's major source of economic growth. Based on Taiwan exports likely to decline and the U.S. and EU speed up its industrial structural adjustment, our research studies the competition between Taiwan and other exporting countries in the U.S. and EU import markets. Through analyzing the changing pattern of export structure and competitiveness among Asian competitors (including Japan, Korea, and China) and observing the U.S. and EU’s future directions for industrial development and economic policy, we aims to design the trade and economic strategy and product market expansion to upgrade the export competitiveness of Taiwan and the steady economic growth.
The U.S. and EU take High-tech applied in the emerging markets seriously. The import growth of intermediate goods and machinery & equipment are matched with industrial needs under Re-Industrialization and Green New Deal. Compared to the export situation of competitors, Taiwan's economy is export-oriented and main export products are electronics. Besides export labor-intensive goods, China have occurred the degree of import substitution in order to have the capacity to diversify export products. Korean electronics industry has come to own a significant share of the world electronics market today. Their companies are now the major DRAM suppliers in the world. They conduct state-of-the-art R&D projects, establish foreign ventures and brand, and understand consumer preferences in foreign markets. Although Japan’s industrial supply chain has seriously damaged due to the 311 earthquake in 2011, Japan’s export competition still has growing strength.
According to all finding of this research, facing the international trend of accelerated economic integration and the industrial structural adjustments in the U.S. and EU markets, we should promote the program of Taiwan businessmen return to Taiwan investment in order to improve domestic industrial structure. Toward optimistically the development of forward-looking industry's future growth, we should overall arrange early to catch export opportunities. Besides, we should raise the levels of R&D, patents, product quality, and brands to deep the value chain in exporting. For example, based on the superiority of the mutual complement of machinery & equipment industry in the U.S. market, Taiwan and Japan can establish a system of specialized units day industry collaboration, to integrate the effective use of each resource, to build a complete industrial cooperation environment. Besides, we can strengthen the cooperation of machining centers for working metal industries between Taiwan and the EU.[轉載自摘要]