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Volume 32, Issue 3

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Monday, 19 November 2007 22:30

Taiwan Hit by Devastating Quake

Written by  David Glen-Smith

Taiwan experienced the worst disaster in recent years on September 21, 1999, when an earthquake struck the island in mid-September. Numerous homes and businesses were destroyed during the initial quake and in the aftershocks falling. To date, over 100,000 people are left homeless; over six thousand homes were completely wiped out. Currently, inadequate power supplies are hurting many high-tech companies to postpone production. Numerous businesses in the computer industry will be affected as a result. Microchips and other related products make-up for 50 percent of Taiwan's exports. It is predicted that the economic growth rate would drop 0.1 to 0.2 percentage points. The reconstruction process could cost as much as NTD 200 billion (equivalent of 6.25 U.S. billion). (Editor's note: More on this catastrophic event will be featured in a forthcoming issue of DRJ.)