TSMC chairman Zhang Zhongmou stated yesterday (December 12) that the economy has deteriorated and that “the swallows will not be seen in the next year.†The four major economies, such as Europe, the United States, Japan and the mainland, will not be in good condition next year. Taiwan is a shallow-disc economy and it is difficult to stay out of the picture. This is the most pessimistic view released by Zhang Zhongmou since the second quarter of this year when the economy has seen a reversal signal. At the beginning of July this year, Zhang Zhongmou also expected that the semiconductor inventory adjustment would end in the third quarter and pick up in the fourth quarter. He even said that “this year’s economy is still optimistic†and that within a period of three months, there is a 180 degree change in perceptions. Revealing that the business is fluctuating too fast, the wafer godfather Zhang Zhongmou has had to adjust his views again and again.
Zhang Zhongmou attended the award ceremony of "2011 Taiwan's Best Prestige Enterprises" hosted by the World magazine yesterday and delivered a special speech.
The theme of Zhang Zhongmou’s temporary change speech was changed from “Future Economic Trends†to “Corporate Fundamentals,†and his usual swallows were used to talk about the boom.
Zhang Zhongmou bluntly said: "You can't see Swallows now, and you may not see Swallows in the coming year." This tells us the predicament of the current environment.
He analyzed that the European and American economies are not good. They are political issues plus economic problems. The Japanese recession is already an old problem. The mainland is mainly under pressure from inflation and will surely try to cool down, and economic development will gradually slow down.
As for the U.S. economic back trend, Zhang Zhongmou analyzed that political issues may be solved in a year's election. However, no matter whether the Obama or Republican candidates are elected, the new U.S. rulers face economic problems again, the United States has experienced at least two years. The recession is not expected to get better in 2013 and the European problem is even more serious.
Zhang Zhongmou pointed out that he does not think that the mainland will grow as strong as in 2008 and 2009 and become a powerful force that supports global economic stability.
He said that the world is currently suffering from inflation, and the mainland is also facing this problem. To suppress inflation, it will slow the pace of economic growth.
Speaking of this, he added tone again: "The whole world will not see swallows next year."
Zhang Zhongmou attended the award ceremony of "2011 Taiwan's Best Prestige Enterprises" hosted by the World magazine yesterday and delivered a special speech.
The theme of Zhang Zhongmou’s temporary change speech was changed from “Future Economic Trends†to “Corporate Fundamentals,†and his usual swallows were used to talk about the boom.
Zhang Zhongmou bluntly said: "You can't see Swallows now, and you may not see Swallows in the coming year." This tells us the predicament of the current environment.
He analyzed that the European and American economies are not good. They are political issues plus economic problems. The Japanese recession is already an old problem. The mainland is mainly under pressure from inflation and will surely try to cool down, and economic development will gradually slow down.
As for the U.S. economic back trend, Zhang Zhongmou analyzed that political issues may be solved in a year's election. However, no matter whether the Obama or Republican candidates are elected, the new U.S. rulers face economic problems again, the United States has experienced at least two years. The recession is not expected to get better in 2013 and the European problem is even more serious.
Zhang Zhongmou pointed out that he does not think that the mainland will grow as strong as in 2008 and 2009 and become a powerful force that supports global economic stability.
He said that the world is currently suffering from inflation, and the mainland is also facing this problem. To suppress inflation, it will slow the pace of economic growth.
Speaking of this, he added tone again: "The whole world will not see swallows next year."
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