Earth Equity News

Taiwan's Bicycle Makers Riding High Amid Global Financial Crisis. AFP, October 18, 2008. "Taiwan exports reached a record high in 2007 of 1.05 billion US dollars with 4.75 million bikes sold abroad, while 2008 looks set to break that record with the export of 2.76 million bikes totalling 635 million US dollars in the first six months, government figures showed. There is no official data on how many bicycles are sold locally but industry watchers estimate around one million were sold in 2007 on the island of 23 million people... As inflation soars and financial markets tumble, Taiwan's bicycle manufacturers and other businesses catering to the thrifty are thriving as the public becomes increasingly eager to economize... Taiwan's government has also promised to expand cycling routes and facilities, in a bid to promote cycling as part of its 'green policy' aimed at saving energy and reducing carbon emissions."