Taiwan has reported its economy expanded at an 8.6% annual rate last year, its fastest growth in 15 years. The Taiwan statistics agency said the rapid expansion was largely driven by soaring demand for computer chips and other electronics needed for artificial intelligence. A recent trade deal with Washington could further boost exports and growth this year. Taiwan’s exports jumped nearly 35% last year, with exports to the U.S. rising 78%. Companies like chip-maker TSMC and Foxconn, a manufacturer of iPhones, have logged record profits and revenues. However, worries persist about the possibility that the AI boom may prove to be a bubble. Elevated tensions with Beijing also cloud Taiwan's economic outlook.
