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The U.S.-China trade war has been on the rise for more than a year, and both sides have become more and more fierce. The economy has been affected by the recession and the global manufacturing supply chain has also accelerated. Although Taiwan has benefited from this wave of trade wars in the short term, it may still suffer a lot in the long run. Also, the influence of other Asian countries affects the layout of Taiwanese businessmen. In the face of complex situations, we must be prepared to respond.
To understand the needs of Russia's manufacturing upgrading at this stage, and point out that international machine tool manufacturers are launching machine tools in the Russian market that are similar to Taiwan machine tool to provide a reference for Taiwan's machine tool industry to lay out the Russian market.
The troubles caused by this COVID-19 not only affected everyone's health and safety, but also caused global economic development due to shutdowns, closures, supply chain breaks, and joint losses.
The world economy refers to an economic community or economic cooperation group formed by multiple countries to achieve preferential trade policies and realize common economic interests in response to fierce market competition.
The global economy at the beginning of 2020 was affected by the epidemic, and the global economy showed a downturn, which caused global concern.
The recent epidemic in Europe and the United States has gradually slowed down. Countries have begun to plan to gradually restart economic activities, which will help demand to recover and manufacturing activities in manufacturing will gradually increase.
Affected by the two major economies of the United States and China, global trade trends have subsided, and the Asian economy has also suffered greatly.
The ASEAN countries' economy is growing stronger, and it is expected to leap into the world's fourth-largest economy in 2030. Taiwan has geographical advantages and is actively developing a south-facing economic island chain.
From January to June 2020, Vietnam's industrial production index increased by 2.71% compared to the same period last year (2019).
How to choose the rise of India's manufacturing industry and whether it can accelerate its growth will determine whether Taiwan's machine tool industry can find a new blue ocean in South Asia as expected.
2020 is a year of global economic challenges. The United States has the worst epidemic in the world, ethnic conflicts, and political turmoil, but US stocks have soared. After the epidemic and ethnic conflicts, when and how will the US economy restart?
According to the International Economic Forecasting Agency, the global economic growth of this year (2020) is almost the same as the growth rate of 2019. However, the impact of the covid-19 may affect the economy of various countries in the short term and even impact the industrial supply chain. The current situation of the international economy and explain the possible influence factors of the recent development of the North American market, including the US-Canada-Mexico Agreement, the US-Japan Agreement, the US-China trade war, etc., and then the development of the supply chain changes explore the outlook for the North American market.
The US-China trade war has hit the global market. Since the start of the trade war, the US has imposed tariffs on China in three waves, which has also brought out the benefits of transfer orders. Among them, Mexico has benefited the most. The proximity to the United States, tariff-free exports, and cheap labor are opportunities that companies have seen in Mexico in the past. But in the future, the US-Mexico-Canada trade treaty may weaken Mexico's cost advantage.
Central and Eastern European countries are emerging markets. Among them, Poland, which is located in the transportation hub of Western and Eastern Europe, has the most potential for the development of the manufacturing market.
Italy has a solid industrial foundation and is the second-largest producer of machine tools market in Europe.
As most of the world still struggles with the coronavirus pandemic, China is showing once again that a fast economic rebound is possible when the virus is brought firmly under control.
The trade war and the epidemic have impacted the global economy. No country can stay aside. As the world's top three exporters of machine tools, Japan is also facing the dilemma of a simultaneous decline in export and domestic demand! Although the orders from China in June ended Japan’s 27 consecutive months of negative growth over the same period, the machine tool industry’s demand for face-to-face with customers and delivery of machine installations has stagnated because the restrictions on movement have not been lifted, and the original production plan in the case of delay or contraction, all localities remain cautious about investment. Facing the impact of the epidemic, Japan’s Ministry of Economy, Trade, and Industry have also offered relief measures for manufacturers, including rent, working capital, preferential loans, and trade insurance, to avoid large-scale corporate failures in the country, and encourage Japanese companies to increase capital investment. Maintain the momentum of economic growth.
The market has gradually shifted to a zero-touch economy, unmanned production, and unlimited applications in response to the challenges of the times and the epidemic.
The United States, the European Union, and China are the world’s three largest economies, which together are estimated to account for 60.92% of the global economy in 2021.