March 2015  
Loose monetary measures by most; a tough call by the Fed
TIER manufacturing and service business composite indicators decline in chorus
As most major central banks in the world including the European Central Bank (ECB), Bank of Japan (BOJ), People’s Bank of China (PBOC), and Bank of Korea (BOK) have all decided to or continue their looser monetary policies, the Federal Reserve (Fed) is now at the crossroads. The US job market is improving, and the unemployment rate dropped to 5.5%, a new low since May 2008; it is time in theory to launch a rate hike in the near future. However, even the hawkish members would probably try to avoid sending early invitations to hot money by enlarging the spread. Besides Fed’s tough call, nearly universal low interest policies suggest that the growth momentum is still fragile. With weak and uncertain global conditions plus base twist of lunar New Year in February, the manufacturing and service sector composite indicators issued by the Taiwan Institute of Economic Research (TIER) went down all together.
Taiwan’s exports in February 2015 decreased by 6.65% on a year-on-year basis; the continuous crude price plunge offsets the exports of petroleum related industries in addition to the lunar New Year base distortion. As Taiwan’s imports would often be affected by exports, the imports in February 2015 also declined by 22.38% year-on-year due to almost the same reasons of declining exports.
Regarding domestic demand, plunge of crude oil prices actually play a positive role by promoting Taiwanese real income.
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Taiwan records 3.5% rise in 2014 manufacturing turnover
Taiwan's manufacturing turnover rose by an annual 3.5 percent in 2014 to the highest annual level ever, but investment in fixed assets dropped 0.8 percent, according to statistics published on Monday by the Ministry of Economic Affairs (MOEA). In the fourth quarter of 2014 alone, the country's manufacturing turnover was NT$7.4275 trillion (US$237.31 billion), a 2.3 percent year-on-year increase and a record quarterly high, according to MOEA's Department of Statistics. For the whole of 2014, Taiwan's manufacturing turnover grew 3.5 percent to the highest ever figure of NT$27.3346 trillion, the data showed. (Source: The China Post)

Export Orders down 2.7% in February 2015 (Source: MOEA)
Taiwan Economic Research Monthly
Taiwan's agricultural internationalization and industrialization development strategy in response to the regional integration and bilateral cooperation
Agricultural value-chain integration and international marketing strategy - New Zealand kiwifruit industry
The well-built industrial structure in New Zealand kiwifruit industry is an important support to develop its international marketing. Zespri, a well-known kiwifruit company, has undoubted marketing strategy, such as, Zespri cooperates with Plant & Food Research in intellectual property right models as well as cooperates with Seeka in full time agricultural service management. New Zealand kiwifruit business model, integrating its international marketing strategy and value chains, is a valuable inspiration for promoting agricultural internationalization and industrialization in Taiwan.
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