respondents considered China

Private consumption also made a modest contribution to economic growth in 2024. Taiwanese consumers’ lack of threat perception might explain the limited impact of China’s military threats on private consumption. According to the Institute for National Defense and Security Research, 62 per cent of respondents considered China unlikely to invade Taiwan in the next five years, compared to only 24 per cent who believed that it is possible. Rising inflation also impacted Taiwan’s private consumption development. Despite wage hikes, real regular wages have seen minimal growth — a 0.45 per cent year-on-year increase between January and September — due to inflation. Soaring housing prices have held down private consumption and added risks to a potential household debt crisis. In 2023, Taiwan’s household debt-to-GDP ratio reached 90 per cent, higher than the United States, Japan, Germany and Singapore in 2022. สล็อตเว็บตรง