TAIWAN

Economic Growth Estimates Cut: In a signal that the world economic downturn is gradually affecting Asia, Taiwan has sharply lowered its estimates of economic growth for the third and fourth quarters, as well as the first half of next year. Gross national product grew 5.14% in the third quarter, nearly a full percentage point less than the 6.08% predicted three months ago. For all of 1992, the economy is expected to grow 6.11%, nearly a percentage point below the government’s forecast of 6.93%. The government also lowered its forecast for economic growth in the first half of 1993 to 6.35% from 6.86%.