Taiwan's industrial factories are on a tear, according to a report from Bloomberg, as a result of the trade war between the United States and China. This is due, according to the publication, to increased orders from the United States and a growing demand for 5G smartphones. In a trade war between the U.S. and China, Taiwan is getting the spoils.
In July, production rose 3 percent, which Taiwan economics ministry deputy statistics head Wang Shu-chuan said is due mainly to components and computers being produced more domestically and getting bigger orders from the U.S.
The ministry said output "represented a record high for the month of July," Bloomberg reports.
This news comes the same day as the Chinese government announced that it will impose 5 or 10% tariffs on $75 billion of goods from the United States on Sept. 1 and Dec. 15, the same days U.S. tariffs will be put in place by President Donald Trump's administration.
When Bush 1 took office in 1989, China's GDP was $347.8 Billion
When Bill Clinton took office in 1993, China's GDP was $444.7 Billion
Bush 2 in 2000: $1.21 Trillion
Obama in 2008 was after things started taking off: $4.6 trillion
In 2017, China's GDP was $12.24 Trillion, or an increase of $11,795 Billion (2650%) over 25 years.
In 2018 it was $13.4 Trillion: an increase on $1.2 Trillion over 1 year. They grew their economy In one year, by as much money than the entire country's economic output was worth 2.25 presidents ago.
In 2019 their estimated GDP is $14.2 Trillion: An increase of more than their pre-Bush 1 GDP combined with their pre-Clinton GDP
So.. What's up with that?
Also, what's the deal with Taiwan? I'm looking for their GDP, but stuff is pointing to them being, well, also China.
I guess few people know the fact that the official name of Taiwan is actually the Republic of China and the fact that it's a democratic country that actually respect basic human rights.