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New Year shows positive sign on global economic activities
TIMTOS 2017 expected to fuel up the energy of machine export in the upcoming months
Along with the departure of Chinese New Year celebration, spring has come at our doorstep and the industry is anticipating a breakthrough for the coming months. According to the economic outlook forecasted by the World Bank and IMF, we might be able to have a positive hope toward the market in general. The World Bank forecasts that global growth should expand at a 2.7 percent annual rate this year, up from 2.3% in 2016. Seemingly, IMF has stated that the economic activity will heighten in 2017 and 2018 for both the advanced economy, and emerging economy if in consistent to numbers of policy stimulus.
Compare to the global growth for 2016 at 3.1 percent, the rate is projected to accelerate in 2017–18, with global growth at 3.4 percent and 3.6 percent respectively. Advanced economies are now projected to grow by 1.9 percent in 2017 and 2.0 percent in 2018. Under this upbeat economic outlook for 2017, amidst political economic instability in the US and EU, the machine builders in Taiwan shall not hesitate to work on international trades, and particularly facilitate the competitive edges of their equipment in the market. In short, the strength of high degree automation, strong ability in customizing and economic pricing are will be the fundamental advantages to attract users in the emerging economy who would like to set up their factories, or help users in the advanced economy in machine renewal. Furthermore, the practical experiences and know-hows that the Taiwan’s machine builders gained in different fields – electronics, automobile, and aviation industries are also of great importance to global manufacturing industry.
The Ministry of Economic Affairs has officially launched the intelligent machinery office on the 7th of Feb, for directing machine and component builders to the destination of smart machineries. As in the category of controller, it is expected to increase the export of controller from the current 10% to 18% in four years, and reach 30% in eight years.
Intelligent machineries is one big topic at TIMTOS 2017, Taiwan will show global visitors how the machine builders has been planning to attract users with their strong solution designing abilities. Hopefully, it will be a show that unveils machine trade and the wakening up of global economy.
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