l According to the World Competitiveness Yearbook 2012, Taiwan was ranked 7th in the global competitiveness survey, falling just one notch from 2011 primarily because the island’s disappointing economic performance since mid-2011.
l Amidst the deteriorating sovereign debt crisis in Europe and the sluggish recovery in the US, Taiwan’s exports, employment outlook, and foreign investment will not have a sharp and sustained rebound until possibly the 3rd quarter, at the earliest.
l In addition, Taiwan will, if not already, face challenges ranging from cultivating and retaining talent, strengthening innovative R&D, enhancing corporate governance, promoting further normalization of cross-Strait economic and trade relations, and continuing financial and fiscal reforms—none of which is easy in a divided and confrontational domestic environment.
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