Taiwan, an island off the southwestern coast of China, is the most populous state and largest economy that is not a member of the United Nations. Today, Taiwan is home to 23.7 million people, a population comparable to that of Xinjiang, Beijing, and Shanghai. Despite a recent economic slowdown, Taiwan's GDP per capita stands at $25,000, nearly triple that of China. In terms of PPP, Taiwan ranks 77th in the world; China ranks 108th.
While Taiwan is an economic success, the island remains economically dependent on China. Partner dependency and commodity concentration could prove troublesome for Taiwan if mainland-island relations deteriorate as a result of political backlash, for example. With US-China economic relations the subject of intense focus in recent months, we take a look in today's Viz of the Day at Taiwan's existing trade relations with these two countries and its vulnerability to disruptions in political and economic relations with either nation.
To date in 2017, the United States has averaged more than 900,000 barrels per day (b/d) of crude oil exports while sustaining an average import volume of 8.1 million b/d. From 1975 until late 2015, a ban on the export of US crude oil severely restricted crude oil exports from the US to all countries except Canada. In the years leading up to the US shale oil boom in the early years of this decade, the US exported less than 30,000 b/d to Canada. While Canada remains the predominant destination for US crude oil, the repeal of the crude oil ban allowed US exporters to expand to nearly 30 countries last year and an export total of 591,000 b/d. In...
The WTO General Council meets as the Trade Policy Review Body to undertake trade policy reviews of Members under the TPRM and to consider the Director-General's regular reports on trade policy developement. The TPRB is thus open to all WTO Members. The current chair is Ms. Irene B. K. YOUNG (Hong Kong, China). Event Holder: World Trade Organization Source of data: Merchandise trade matrix, imports and exports of total all products, annual, 1995-2014, WTO statistical data sets, 1948-2014
Trade Policy Reviews are an exercise, mandated in the WTO agreements, in which member countries' trade and related policies are examined and evaluated at regular intervals. Significant developments that may have an impact on the global trading system are also monitored. All WTO members are subject to review, with the frequency of review depending on the country's size. Date: 20-22 February 2018 Event holder: World Trade Organization
Trade Policy Reviews are an exercise, mandated in the WTO agreements, in which member countries' trade and related policies are examined and evaluated at regular intervals. Significant developments that may have an impact on the global trading system are also monitored. All WTO members are subject to review, with the frequency of review depending on the country's size. Date: 11-13 April 2018 Event holder: World Trade Organization