20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Recent trade data shows that the U.S. has become the leading destination for Taiwanese exports, overtaking China.
What Happened: Taiwan’s exports to the U.S. increased by 65.7% year-on-year in March, totaling $9.1 billion. In contrast, exports to mainland China saw a modest increase of 6%, amounting to $7.9 billion. This is a marked change from the past, with China being the main recipient of Taiwanese exports since 2003, reported Bloomberg.
The Finance Ministry in Taipei released the data on Wednesday, coinciding with a significant meeting between Chinese leader Xi Jinping and former Taiwan President Ma Ying-jeou. Despite the leaders emphasizing the close ties between the two sides of the strait, the trade data suggests a diverging narrative.
See Also: Western Nations May Face $10 Trillion Defense Spending Surge Amid Russia-China Threat: Report
This change in export destinations reflects a shift in global trade relationships, driven by consecutive U.S. administrations’ efforts to lessen the dependence of the world’s largest economy on Chinese-made goods. This trend is not exclusive to Taiwan, as South Korea’s exports to the U.S. surpassed those to China at the end of 2023.
Why It Matters: This shift in Taiwan’s export market comes amid a series of significant events. A meeting between the Chinese President and several U.S. CEOs in late March saw Jinping providing “tough answers” to questions about the economy, chips, and Taiwan.
Following this, a powerful earthquake in Taiwan in early April rattled the semiconductor supply chain, highlighting the global dependence on Taiwan for chips.
Furthermore, Jinping’s meeting with Taiwan’s Former President Ma Ying-Jeou amid rising cross-strait tensions and the surge in Taiwan’s ETF market led by the AI stock craze, particularly from key Nvidia and Apple supplier Taiwan Semiconductor Manufacturing Co (NYSE:TSM), further underscore the shifting dynamics in Taiwan’s economic and geopolitical landscape.
Read Next: China Conducts Military Patrols In South China Sea Amid US Naval Drills
Photo Courtesy: rarrarorro on Shutterstock.com
Benzinga Neuro, Edited by Kaustubh Bagalkote
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!