TAIPEI (TVBS News) — Taiwan must diversify its economy beyond the AI sector to ensure sustainable growth, industry leaders warned Wednesday (Nov. 26). Thomas Wu (吳東亮), chairman of the Chinese National Association of Industry and Commerce (CNAIC, 中華民國工商協進會), a major business organization, made the statement during the group's 114th industry breakfast meeting. Premier Cho Jung-tai (卓榮泰), Taiwan's premier, attended the Taipei meeting with government officials to discuss economic policies with industry leaders.
Wu cautioned that relying solely on AI for economic growth could be risky despite Taiwan's impressive AI industry performance in recent years. He urged improvements to boost overall economic resilience and prevent M-shaped industrial growth, which refers to an economy with widening wealth inequality between social classes. Wu stressed that the government must continuously improve efficiency and assist businesses in enhancing their investment and operational environments across all sectors.
Wu stated that Taiwan's economic growth rate aims to reach 5 to 6 percent this year, potentially maintaining its position as a leader among the Four Asian Tigers, a group of highly developed Asian economies. He attributed this success to collaboration between the government and the industrial sector, which is beginning to show results. Nvidia's consideration of establishing an overseas headquarters in Taiwan underscores the nation's role in the global AI ecosystem, Wu said.
Wu acknowledged pressures from the tariff war initiated by U.S. President Donald Trump's administration. He commended progress by the Ministry of Economic Affairs (經濟部) and the Financial Supervisory Commission (金管會), Taiwan's financial regulator, in implementing industry support measures. The association presented the government with 47 proposals and 100 specific recommendations during the breakfast meeting. The recommendations cover energy, finance, talent, the investment environment, and industrial upgrades. ◼