Taiwan is enjoying an artificial intelligence-fuelled boom that pushed GDP growth above 8 per cent in the third quarter, but Kevin Chung, an engineer at a machinery manufacturer in the New Taipei Industrial Park, has not been feeling much benefit.
“The economy’s pretty bad,” Chung said recently in the park, a cluster of small factories, warehouses and offices west of the capital Taipei. “All of our costs are going up. A lot of our customers have gone out of business.”
Such downbeat sentiments reflect a stark divergence in Taiwan’s industrial sector between the fortunes of cutting-edge technology companies and more traditional manufacturers.
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