Taiwan’s bicycle makers riding high amid global financial crisis

TAIWAN: For the past six months Wayne Hsu has been cycling 45 minutes to his office every day, which he says gets him off to an energetic start and, more importantly, slashes his monthly petrol bill.

Hsu, an airline sales representative in northern Taoyuan county, is among a growing number of people here opting for bikes over cars amid rising inflation and a slowing economy.

“Cycling is an inexpensive way to exercise and I’ve encouraged my colleagues and even my boss to follow my lead,” he said.

The new-found devotion to cycling is a great boon for bicycle manufacturers on the island, which was once the world’s leading exporter but has watched business fall since the mid-1990s due to dumping charges and relocations of factories to China where production costs are much lower.

China now is the world’s major supplier of low-cost bicycles, while Taiwan retains its edge in high-end products such as racing-style, mountain and folding bikes with an average price tag of 222 US dollars, according to the economics ministry.

Taipei, Sundasy, AFP