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Economy

As China's economy cools, East Asia feels the chill

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Taiwanese companies supplying parts for the iPhone have seen their sales fall as Apple posted its first quarterly revenue decline in 13 years.   © Reuters

TAIPEI China has long been a prime export destination for its East Asian neighbors, but the lingering slowdown in the world's No. 2 economy has become a major headache for Taiwan, Japan and South Korea.

China accounts for some 40% of Taiwan's total exports and about 25% of global Apple sales. Waning Chinese demand is now pushing Taiwan's tech supply chain, a key driver of the island's economy, into a downward spiral. This year could see the Taiwanese tech sector's first annual decline in revenue since the global financial crisis.

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