Taiwan's economic outlook boosting | WPN World People News

Taiwan’s 2012 presidential election had attracted world attention last week. President Ma Ying-jeou’s relection has been treated as the support for Consensus of 1992 which is the foundation of stable cross-strait relations and allows further develope cross-strait ties. The European Union, United States, China and Taiwan’s neighbouring countries welcome the result.

Ma’s election rival, Tsai Ing-wen declareed in her concession speech to resign Democratic Progressive Party (DPP) chairperson after the lost of presidential election. Though DPP members and her supporters called for her to stay in the position, the party accepted her resignation on Monday. Tsai would step down on March 1 when her successor is selected.

It is believed that Ma’s victory will bring a bullish market for Taiwan. President Ma is considered to continue his policy and bring Taiwan closer economically to China. However, Taiwan’s export-driven economy heavily reliance on trade with both developed and emerging markets will slow its growth when it is affected by the situations in Europe and the United States.