Cathay Financial’s previous projections were 1.7 percent for this year and 2.9 percent for next year. Despite the expected improvement, Cathay Financial — the nation’s largest financial institution by market value — agreed with international research bodies that the global economy needs more time to recover to pre-pandemic levels, citing economic reports for this and next year. National Central University professor of economics Hsu Chih-chiang, who heads a research team commissioned by Cathay Financial Holding Co, speaks to reporters in Taipei yesterday. Photo: Allen Wu, Taipei Times“That view accounted for our relatively conservative forecast,” said National Central University professor of economics Hsu Chih-chiang (徐之強), who heads a research team commissioned by Cathay Financial. The situation is favorable for global trade flows, allowing exports and imports next year to expand 4.33 percent and 4.4 percent respectively, Hsu said.

Source: Taipei Times December 22, 2020 15:56 UTC