{"id":14061,"date":"2023-05-04T17:00:00","date_gmt":"2023-05-04T09:00:00","guid":{"rendered":"https:\/\/www.tejwin.com\/?post_type=insight&#038;p=14061"},"modified":"2024-02-17T08:34:28","modified_gmt":"2024-02-17T00:34:28","slug":"pcb-industry-shakeup","status":"publish","type":"insight","link":"https:\/\/www.tejwin.com\/en\/insight\/pcb-industry-shakeup\/","title":{"rendered":"PCB Industry Shakeup: Southeast Asia Emerges as New Battleground"},"content":{"rendered":"\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<figure class=\"wp-block-image alignfull caption-align-center\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1_1pxnmGMKdc027MxHLRmHQTg.jpg\" alt=\"PCB Industry: Southeast Asia Emerges as New Battleground\"\/><figcaption class=\"wp-element-caption\">Source:&nbsp;<a href=\"https:\/\/unsplash.com\/photos\/jXd2FSvcRr8\" target=\"_blank\" rel=\"noreferrer noopener\">Unsplash<\/a><\/figcaption><\/figure>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69f9f5fd18ed4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"ez-toc-cssicon\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69f9f5fd18ed4\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.tejwin.com\/en\/insight\/pcb-industry-shakeup\/#Preface\" >Preface<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.tejwin.com\/en\/insight\/pcb-industry-shakeup\/#The_History_of_the_PCB_Industry\" >The History of the PCB&nbsp;Industry<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.tejwin.com\/en\/insight\/pcb-industry-shakeup\/#Started_From_The_Scratch\" >Started From The&nbsp;Scratch<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.tejwin.com\/en\/insight\/pcb-industry-shakeup\/#The_Sprout_of_Taiwans_PCB\" >The Sprout of Taiwan\u2019s&nbsp;PCB<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.tejwin.com\/en\/insight\/pcb-industry-shakeup\/#Experiencing_Ups_And_Downs_China_Took_The_Lead_of_PCB_Production\" >Experiencing Ups And Downs, China Took The Lead of PCB Production<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.tejwin.com\/en\/insight\/pcb-industry-shakeup\/#PCB_Industry_Now\" >PCB Industry&nbsp;Now<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.tejwin.com\/en\/insight\/pcb-industry-shakeup\/#Impact_of_the_US-China_Trade_War_on_the_PCB_Industry\" >Impact of the US-China Trade War on the PCB&nbsp;Industry<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.tejwin.com\/en\/insight\/pcb-industry-shakeup\/#What_Happened_to_Taiwans_PCB_Industry\" >What Happened to Taiwan\u2019s PCB&nbsp;Industry<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.tejwin.com\/en\/insight\/pcb-industry-shakeup\/#The_Relocation_of_Taiwans_PCB_Manufacturers\" >The Relocation of Taiwan\u2019s PCB Manufacturers<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.tejwin.com\/en\/insight\/pcb-industry-shakeup\/#New_Hubs_for_PCB_Industry\" >New Hubs for PCB&nbsp;Industry<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.tejwin.com\/en\/insight\/pcb-industry-shakeup\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Preface\"><\/span>Preface<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Printed Circuit Board (PCB), the indispensable core component of all electronic products, has cemented Taiwan as the hub of the global PCB industry. However, in the face of changing supply chain dynamics due to the US-China trade tensions and recent economic sanctions, the issue of whether PCB manufacturers will move their production capacities from China to other countries has resurfaced. Has Taiwan\u2019s PCB industry shifted its production to Southeast Asia to mitigate geopolitical risks? In this article, we\u2019ll delve into the development of the PCB industry, Taiwan\u2019s PCB export trends, and analyze the impact of geopolitical factors on the migration of Taiwan\u2019s PCB manufacturers in the past five years.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_History_of_the_PCB_Industry\"><\/span>The History of the PCB&nbsp;Industry<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Started_From_The_Scratch\"><\/span>Started From The&nbsp;Scratch<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In 1925, Charles Ducas printed circuit diagrams on an insulating substrate using electroplating as a conductor for wiring. The term \u201c<em>Printed Circuit Board<\/em>\u201d was officially coined, but it couldn\u2019t be commercialized due to immature technology at the time. It wasn\u2019t until 1947 to 1950, with the advent of the transistor, that the PCB industry rapidly developed, and advanced countries such as Europe, the United States, and Japan entered the mass production stage. However, the manufacturing process produced many complex pollutants, and the added value was low, resulting in low profits. To reduce production costs, foreign electronic manufacturers chose to set up factories in developing countries with low labor costs and looser environmental regulations, creating a new international division of labor. Therefore, Taiwan has begun to sprout at that time.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Sprout_of_Taiwans_PCB\"><\/span>The Sprout of Taiwan\u2019s&nbsp;PCB<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Taiwan\u2019s printed circuit board (PCB) industry began to take root in 1969 with the establishment of a plant by Ampex. At the time, Taiwan was in a period of export expansion, with the government actively promoting policies and incentives to attract foreign investment and offering advantages such as a stable social environment, low-cost labor, and lenient environmental policies\u200a\u2014\u200aall of which created an attractive emerging market for development and investment. As foreign investment poured in, a chain of supply gradually developed and formed a thriving industry chain. Moreover, in 1980, HP moved its PCB manufacturing to Taiwan and invited Nan Ya Plastics to become a partner, planting the seeds for Taiwan\u2019s current position in the tech industry.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Experiencing_Ups_And_Downs_China_Took_The_Lead_of_PCB_Production\"><\/span>Experiencing Ups And Downs, China Took The Lead of PCB Production<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Following the dot-com bubble and the 9\/11 attacks, the global economy experienced a severe downturn, with European and American businesses suffering the most significant losses. This had a severe impact on Taiwan\u2019s economy, resulting in a dramatic drop in growth rate from 5.8% in 2000 to 1.7% in 2001, and the PCB industry entered a period of decline for the first time. Moreover, the 2003 SARS outbreak led to a sharp decline in demand for electronic devices, and the semiconductor industry was hit hard. In 2004, Typhoon severely damaged northern Taiwan, causing a water shortage that lasted for three weeks, and PCB manufacturers have been affected once again, with many small and medium-sized enterprises going bankrupt.<\/p>\n\n\n\n<p>After facing cutthroat competition and natural disasters, European and American corporations withdrew from the PCB market and required suppliers to establish overseas branches. China\u2019s advantages in low labor costs, a huge domestic market, and easy access to land made it highly sought-after. Taiwanese PCB factories gradually moved their production lines to China, laying the foundation for China\u2019s future as a PCB production hub.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"PCB_Industry_Now\"><\/span>PCB Industry&nbsp;Now<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image alignfull caption-align-center\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1oIB0JdbeOa_0H8W_myikYQ.png\" alt=\"PCB Industry: Global PCB Manufacturers in 2021.\"\/><figcaption class=\"wp-element-caption\">Global PCB Manufacturers in 2021. Source: Integrated from N. T. Information<\/figcaption><\/figure>\n\n\n\n<p>According to a survey from N.T. Information, the global PCB production value reached $87 billion in 2021. There are 146 PCB manufacturers with revenue exceeding $100 million, of which China has the most with 69 companies, followed by Taiwan with 27, and Japan with 23 respectively. Regarding revenue, Taiwan\u2019s PCB industry holds the highest global market share of 32.8%, ranking first, followed by China with 31.3% and Japan with 17.2%.<\/p>\n\n\n\n<p>Taiwan\u2019s PCB industry has been deeply rooted for nearly 50 years, establishing the world\u2019s most powerful PCB cluster. However, in recent years, the Chinese government has actively supported Chinese manufacturers to expand production capacity, narrowing the gap in production value with Taiwan, which was only 1.5% in 2021.<\/p>\n\n\n\n<p>But how can Taiwan\u2019s 27 PCB manufacturers create the world\u2019s highest revenue market share? It\u2019s due to their successful efforts in developing high-end PCB products and their strong technological advantage in PCB fabrication. The industry chain is still robust!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Impact_of_the_US-China_Trade_War_on_the_PCB_Industry\"><\/span>Impact of the US-China Trade War on the PCB&nbsp;Industry<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The above history has an important point that has not been mentioned yet. In August 2017, the Office of the United States Trade Representative initiated an investigation against China for allegedly violating U.S. intellectual property rights and launched a series of trade conflicts. As the U.S.-China trade tensions intensified, the U.S. imposed tariffs on goods imported from China and placed Chinese companies on an export control list, causing changes in the global supply chain. The timeline of the U.S.-China trade war and its impact on end applications are summarized in the following chart:<\/p>\n\n\n\n<figure class=\"wp-block-image alignfull caption-align-center\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1e7dM584HEFnL7isr9QfllA.png\" alt=\"PCB Industry: US-China Trade War and Impact on end application.\"\/><figcaption class=\"wp-element-caption\">US-China Trade War and Impact on end application. Source: TEJ E-Journal<\/figcaption><\/figure>\n\n\n\n<div style=\"height:18px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div style=\"border: 1px black; border-style: solid none; text-align: center; border-color: #296580; padding: 24px; margin-top: 24px; margin-bottom: 24px;\">\n<p style=\"margin: 0px; font-size: 24px; font-weight: bold; line-height: 1.5;\">Stay ahead of the curve with TEJ Industry Analysis!<\/p>\n<div style=\"margin-top: 32px;\"><strong><a style=\"border: none; border-radius: 4px; background-color: #296580; color: white; font-size: 20px; width: fit-content; text-decoration: none; padding: 12px 30px 12px 30px;\" href=\"https:\/\/www.tejwin.com\/en\/databank-solution\/fundamental-data\/\">TEJ Fundamental Solutions<\/a><\/strong><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Happened_to_Taiwans_PCB_Industry\"><\/span>What Happened to Taiwan\u2019s PCB&nbsp;Industry<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image alignfull caption-align-center\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1ralfVv11rAGiM9jsLZwPtw.png\" alt=\"PCB Industry: Taiwan\u2019s PCB exports in the past 5 years.\"\/><figcaption class=\"wp-element-caption\">Taiwan\u2019s PCB exports in the past 5 years. Source: Integrated from Trade Statistics<\/figcaption><\/figure>\n\n\n\n<p>Taiwan\u2019s PCB industry mainly relies on an export-oriented production model, and changes in export markets are crucial for the industry as a whole. According to Taiwan Trade Statistics, there was a 3.1% decrease in 2019, the only negative growth in the past five years. However, from 2020 to 2022, the industry benefited from the pandemic-induced surge in remote working, as well as incentives from applications such as automotive electronics, 5G communications, and AI cloud services, resulting in a shift from negative to positive growth rates.<\/p>\n\n\n\n<p>Furthermore, from 2020 to 2022, the proportion of exports to China decreased gradually from 60.1% to 51.2%, while the proportion of exports to other regions showed an increasing trend, including South Korea and Southeast Asian countries. China has had a strong development in the PCB field due to various policy incentives in recent years. However, affected by the restructuring of the supply chain due to the US-China trade dispute, Taiwan has gradually shifted its export focus from China to overseas regions, with Southeast Asia being the most active. The average growth rate in 2022 was 42.3%, while Mexico also grew by 39.0%.<\/p>\n\n\n\n<p>In summary, influenced by the US-China trade war, the production distribution of PCBs in the past five years and Taiwan\u2019s export situation have shown a trend of moving towards Southeast Asia, especially in 2022. Therefore, the next chapter will delve into the expansion and relocation of manufacturers in the past five years to explain this trend.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Relocation_of_Taiwans_PCB_Manufacturers\"><\/span>The Relocation of Taiwan\u2019s PCB Manufacturers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image alignfull caption-align-center\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1TmBc4TdK3VquGQv-Du9cYg.png\" alt=\"PCB Industry: Taiwanese PCB Manufacturers\u2019 Capacity Relocation\"\/><figcaption class=\"wp-element-caption\">Taiwanese PCB Manufacturers\u2019 Capacity Relocation. Source: Integrated from TEJ E-Journal<\/figcaption><\/figure>\n\n\n\n<p>This study focuses on the number of companies whose revenues or non-current assets located in China account for more than 25% of their revenue (Taiwanese Manufacturers with Chinese Subsidiaries). The results show that there are up to 42 companies with high production capacity in China. Among them, it was found that 28 companies have not shown signs of production capacity migration, accounting for 43% of the total number of companies. The remaining 14 companies have shown signs of industry migration, accounting for 22% of the total number of companies.<\/p>\n\n\n\n<figure class=\"wp-block-image alignfull caption-align-center\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1fQGyccg_gvXOr5G6dqzO9w.png\" alt=\"PCB Industry: Revenues Of Taiwanese Manufacturers With A Chinese Subsidiary.\"\/><figcaption class=\"wp-element-caption\">Revenues Of Taiwanese Manufacturers With A Chinese Subsidiary. Source: TEJ E-Journal<\/figcaption><\/figure>\n\n\n\n<p>In addition, by observing the changes in revenue from 2018 to 2022, it was found that Taiwanese Manufacturers with Chinese Subsidiaries showed an upward trend in revenue growth, regardless of whether they had signs of transferring their China-based production capacity. This indicates that the impact of the 25% tariff imposed by the US had a relatively small effect on the printed circuit board industry.<\/p>\n\n\n\n<p>Regarding transfer motivation, around 80% is due to meet customer demand, mostly after 2022. Even though the US-China trade war initially had little impact on Taiwanese PCB companies, recent geopolitical tensions have still led to a shift toward production relocation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"New_Hubs_for_PCB_Industry\"><\/span>New Hubs for PCB&nbsp;Industry<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Taiwan\u2019s export focus has shifted to countries such as Thailand, Vietnam, Malaysia, and Mexico. The reasons why each country attracts investment are:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Vietnam<\/strong>: a gathering place for ODM and EMS factories, a preferred location for major brand manufacturers.<\/li>\n\n\n\n<li><strong>Malaysia<\/strong>: a crucial role in the global semiconductor industry chain, about 7% of global semiconductor trade requires factory assembly in Malaysia. The country also has a 13% global market share for semiconductor packaging and testing, with 50 multinational semiconductor companies, including Texas Instruments.<\/li>\n\n\n\n<li><strong>Mexico:<\/strong> abundant labor, rich mineral resources, and geographical proximity to the US.<\/li>\n\n\n\n<li><strong>Thailand:<\/strong> stable power and water resources, skilled labor, reasonable costs, and compatible environmental regulations. In addition, Thailand passed a series of electric vehicle incentives in July 2022, providing up to 80% annual tax exemption for electric vehicles registered during a specific period. In the tax-free zones or free trade zones, imported components for the production and assembly of electric vehicles are also exempt from tariffs, making it a wonderful place for automotive PCB manufacturers.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As the ongoing trade war between the US and China continues, the latest US restrictions not only prohibit the export of advanced chips and equipment, but also forbid other countries from selling products with US-related technology to China. Downstream manufacturers are taking measures to resist \u201cMade in China\u201d in order to prevent the ban. For example, Dell plans to stop using chips produced in China by the end of 2024 and has informed its suppliers to significantly reduce their use of \u201cMade in China\u201d components. If the US ban on China continues to expand, it may lead to a repeat of the serious disruption of the global supply chain that occurred 30 years ago. In recent years, Taiwanese printed circuit board (PCB) manufacturers have gradually been required to expand globally. Depending on the strength of customer demand, the transfer of Chinese production capacity overseas will be affected.<\/p>\n\n\n\n<p><strong><em>In conclusion, the trend of relocation is already quite evident. However, we still need to pay attention to the trends in the relocation of production lines for Taiwan\u2019s PCB manufacturers in the coming years!<\/em><\/strong><br><a href=\"https:\/\/medium.com\/tej-finance-research-institute\/tej-finance-research-institute-whats-more-than-threat-understanding-the-cybersecurity-industry-e70c403625df\" target=\"_blank\" rel=\"noopener\"><\/a><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button has-custom-width wp-block-button__width-100 has-custom-font-size\" style=\"font-size:22px\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/www.tejwin.com\/en\/databank-solution\/fundamental-data\/\" style=\"border-radius:14px;background:linear-gradient(135deg,rgb(129,216,210) 0%,rgb(9,93,195) 100%)\"><strong>Stay Ahead of the Curve With TEJ Industry Analysis!<br>Transform Insights Into Decisions Today.<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:22px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\"\/>\n\n\n\n<p><strong>About us<\/strong><br>\u2b50\ufe0f <a href=\"https:\/\/www.linkedin.com\/company\/taiwan-economic-journal-co-ltd-\/\" target=\"_blank\" rel=\"noreferrer noopener\" class=\"ek-link\">LinkedIn<\/a><\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u2709\ufe0f E-mail\uff1a <a href=\"mailto:%20tej@tej.com.tw\" target=\"_blank\" rel=\"noreferrer noopener\">tej@tej.com.tw<\/a><br>\u260e\ufe0f Phone\uff1a+886-2-87681088<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>How Will Taiwan&#8217;s PCB Industry Navigate Geopolitical Winds and Trade Turmoil to Ensure Growth in Exports and Manage Capacity Migration?<\/p>\n","protected":false},"featured_media":8540,"template":"","tags":[2946],"insight-category":[689],"class_list":["post-14061","insight","type-insight","status-publish","has-post-thumbnail","hentry","tag-industry-analysis","insight-category-market-research"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/insight\/14061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/insight"}],"about":[{"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/types\/insight"}],"version-history":[{"count":6,"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/insight\/14061\/revisions"}],"predecessor-version":[{"id":21063,"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/insight\/14061\/revisions\/21063"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/media\/8540"}],"wp:attachment":[{"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/media?parent=14061"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/tags?post=14061"},{"taxonomy":"insight-category","embeddable":true,"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/insight-category?post=14061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}