Taiwan's 2001 Economic Growth to be Below 2 Percent

Taiwan's economic growth rate of the year 2001 will fall below 2 percent, despite an optimistic outlook that business conditions will recover by the end of this year, according to news from Taipei.

Local authorities said the low growth forecast is due to the fact that Taiwan's economy grew by only 1 percent in the second quarter and it will be hard to surpass 4 percent for the fourth quarter.

It said it would be over optimistic to expect that Taiwan's export-oriented economy will be able to revive in the fourth quarter, despite the fact that the U.S. economy is very likely to rebound during the time.

People's Daily Online --- http://english.peopledaily.com.cn/