China and Taiwan Lead Emerging Market Growth, Fueled by Chips and Trade
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China's central bank cut reserve requirements to release $140B in capital to boost growth and market confidence. Passenger vehicle sales and exports are also rising.
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Parts of emerging markets outperformed in 2023, including Taiwan, Mexico, Brazil and Latin America overall. Latin America is increasing engagement with China.
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Taiwan benefited from semiconductor demand and plans to expand chip production globally. Its market was supported by election results.
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China's ties with Latin America strengthened amid increased trade, investment and loans. India is seen as an alternative for businesses and investors.
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Analysts expect the chip market rebound to continue, forecasting low-mid teens percentage revenue growth this year. Taiwan exports rose 18% in January.