EDITORIAL: Economic challenges await LaiWith Vice President William Lai (賴清德) winning the presidential election, but his Democratic Progressive Party (DPP) failing to secure a majority in the legislature on Saturday, his administration is poised to face challenges over the next four years. Unlike the other two candidates who talked about restarting ECFA negotiations with China, Lai focused on assisting local industries through digital transformation and advocates innovation-driven models to improve firms’ operations. The government’s incentive packages also led to 1,400 companies investing more than NT$2.1 trillion in Taiwan from 2019 to last year. Due to changes in global politics and economic situations, Taiwanese industries face pressure to transform. Furthermore, the difficult tasks of accelerating wage growth, creating jobs for young people and promoting talent development also await him.
