A survey of high tech companies in Taiwan has revealed that over half are pessimistic about the electronics industry for the rest of this year.
The Taiwanese Commercial Times surveyed 180 companies based in the prestigious Hsinchu Science Park and found that many believed that the Asian economic crisis will have a effect on their businesses. Semiconductor companies feared the future more than electronics companies, according to the report.
Of the 68 chip companies surveyed, over 40 per cent were pessimistic about being able to meet capital expenditures in the second half of 1998, while 44 per cent felt the situation would stay unchanged. According to the report, 32 per cent of the 180 companies believed that liquidity will be affected in the remainder of 1998.
Taiwan is the third most important IT country in the world, after Japan and the United States, but has weathered the economic typhoons lashing the region. However, 20 per cent of its exports go to other Pacific Rim countries. Last week, US president Bill Clinton, told the prime minister of mainland China that he did not feel that Taiwan should have a separate existence as a country in its own right.
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