PETpla.net Insider 12 / 2020

by Heike Fischer EDITOUR PETplanet Insider Vol. 21 No. 12/20 www.petpla.net 22 Taiwan – A strong tiger Due to the weak global economy caused by the Covid-19 pandemic, Taiwan’s economic output is also expected to decline. The International Monetary Fund (IMF) forecasts a 4% decline in the tiger economy this year. Some critical voices comment that the IMF’s forecast is too negative, as Taiwan managed to contain the outbreak of the virus and was able to control the situation well. Taiwan is officially part of the Republic of China. It is a small but important country for East Asia. The area of Taiwan is 35,808 square kilometres. With a population of only 23.7 million, Taiwan nevertheless enjoys enormous economic success. Due to its compact geographical location, the tiger state is one of the most densely populated states in the world. With a population density of about 651 inhabitants per square kilometre, Taiwan is the 17 th most densely popu- lated nation. In the 21 st century, the country’s population has increased by 700%. In the meantime, however, the birth rate in Taiwan has fallen consid- erably. The country is having difficulty maintaining the current population density. According to forecasts, Tai- wan’s population will have reached the climax in 2024 with about 23.7 mil- lion people and will then decline. In terms of purchasing power parity, the Taiwanese economy ranks seventh in Asia and 22 nd in the world. The IMF rates the economy as pro- gressive. The country is particularly distinguished by production facilities in the technology industry.Real GDP growth was 2.7% in 2019. Looking back, this is rather low growth. In 2011, for example, the country had a growth rate of 13% in one quarter, which was the peak of the financial expansion. From 2016 onwards the economy contracted, so the 2.7% growth rate can be considered a rock- solid figure. Sustainability - In Taiwan to recycle is a habit Sustainability is the global mega- trend. It will be of great importance for Asia. In fact, the region bears a disproportionate burden of climate change. Causes for concern are water scarcity, rising sea levels, pollution and plastic in the ocean. Around 8 mil- lion tonnes of plastic end up in the sea every year. Over 90% of plastic waste comes from just ten rivers, eight of which are in Asia. Energy production is the most seri- ous problem. As a developing country, Taiwan is highly dependent on energy to sustain its growth. Fossil fuels such as coal and oil are the cheapest and most available sources of energy. Some countries recognise the need for ambitious energy programmes to curb emissions, but reality is catch- ing up. However, the global megatrend of sustainability also promotes the design of sustainable products and processes. Besides electric vehicles, waste treatment and alternative ener- gies, this trend is also reflected in the production of sustainable packaging. Tour Sponsors: