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The global economy is striving to cope with the COVID-19 impacts
TIER forecast Taiwan's economy to grow by 1.58% for 2020 |
| International institutes including the International Monetary Fund, IHS Markit, and Economist Intelligence Unit have all adjusted their forecasts for this year significantly downward due to the outbreak and severe impacts of COVID-19. As Taiwan and global economy are highly correlated, all three composite indicators issued by the Taiwan Institute of Economic Research (TIER) continue to decline. However, fixed capital formation is deemed as the key engine driving Taiwan's economic growth and mitigating the impacts on consumption and exports. For that reason, TIER forecast Taiwan's economy to grow by 1.58%, 1.09 percentage points less than its previous forecast. ...Read more |
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| Virus Outbreak: Agriculture sector to receive extra NT$2bn, minister says |
| The government is to allocate an additional NT$2 billion (US$66.51 million) to help the agriculture sector cope with disruptions caused by the COVID-19 pandemic, bringing the total funding to NT$8.8 billion. Council of Agriculture Minister Chen Chi-chung in April said that NT$4.07 billion of the original NT$6.8 billion in funding had already been allocated in soft loans to agricultural businesses and it was apparent that more would be needed. (Source: Taipei Times) |
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Taiwan Economic Research Monthly
Trend of developing green energy and technology |
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Discussion of assessment on wind turbine and wind resource, and the application of AI power generation
 Wind power generation has become an important source of eco-friendly energy. All sectors are actively exploring the benefits and development directions of wind power generation. The wind speed and direction of traditional wind power plants are difficult to predict accurately in advance. The power plant can only obtain the power generation results and data after actual power generation. Through introducing the wind resource assessment and artificial intelligence mechanism, the wind power output can be predicted several hours before the actual power generation, greatly increasing the value of wind power generation.
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