2021 TSMA

29 Walter M.S. Yeh Honorable President Asian Federation of Exhibition & Convention Associations The year 2020 has been especially notable for a number of important events. First, the U.S.-China trade war has prompted manufacturers to move supply chains out of China, and Taiwan has benefitted from order transfer. Many com- panies moved their production lines from China to Taiwan to avoid higher U.S. tariffs. Second, COVID-19 has significantly affected our daily lives and world trade ac- tivities. Many countries have placed their citizens on various levels of lockdown. One of the many consequences of this is a big increase in people exercising at home, by more than 70 percent, according to the NPD Group, Inc. Moreo- ver, consumers plan to continue with home exercise even after the COVID-19 pandemic has passed. In addition, twice as many consumers are using digital exercise classes. As a result of this, sales of sports and home fitness equipment, and also recreational bicycles, have seen double-digit growth. Key players in Tai- wanese fitness equipment, Dyaco and Johnson, have been quick to deliver their products in order to meet the current increased demand for home fitness.