- A survey by the American Chamber of Commerce in Taiwan reports that half the companies that took part are re-drafting or intending to re-draft their business continuity plans amid tensions with China
- A growing number said they are impacted by the situation
- Since former US House Speaker Nancy Pelosi visited Taipei in August, China has been conducting more military drills across the Taiwan Strait
TAIPEI, Taiwan: A survey by the American Chamber of Commerce in Taiwan reports that half the companies that took part are re-drafting or intending to re-draft their business continuity plans amid tensions with China, and a growing number said they are impacted by the situation.
Since former US House Speaker Nancy Pelosi visited Taipei in August, China has been conducting more military drills across the Taiwan Strait, as Beijing considers has reiterated that democratically-governed Taiwan is its own territory.
In a survey conducted between 15th November and 16th December the Chamber of Commerce Taiwan said 33 percent of respondents reported that their operations had been “significantly disrupted” by the increase in tensions, compared with 17 percent in an earlier survey conducted in August right after China began its war games.
While what it termed “personal anxiety” about increased military activity or tensions did not significantly change between August and December, 47 percent of companies said they either have revised or are intending to to revise their business continuity plans “to address the new geopolitical climate.”
“We are aware that companies are either initiating or renewing their planning efforts, operational contingency planning. We know that’s going on,” Chamber of Commerce Taiwan President Andrew Wylegala told reporters.
The Chamber of Commerce Taiwan, which said that 214 of its 437 members responded to the December survey, has called for the drafting of an ambitious agenda to accelerate economic cooperation with Taiwan through a new Taiwan-US trade talks framework, which should lead to a bilateral trade agreement at an accelerated rate.
“Engagements are going on between the US and Taiwan. A year and half ago there was none.There is an expectation and hope that things will move faster,” Wylegala said.
