Well I might be wrong but then rat race in Taiwan is not as bad as in Singapore and Hong Kong.
Here is a tldr post here, just my 2 cents worth of thoughts here. This is what I think after reading financial papers and keep track of Singapore and Taiwan fiscal year. (yes, I keep track of the market even I work in media industry, who won't want to earn more money ? Heh..)
Underpaid is kinda of what the govt set its policies in it earlier years. The gross salary median has not increased in more than 10 years.
It was thought for most Taiwanese for more than two decades that the government and decision-makers have spent time preserving their own interests and in fighting the ideological warfare, instead of sustaining the economy. But after 1970s, Taiwan didn't woo multinational companies like Singapore does, didn't set up a financial hub like Hong Kong did or set up conglomerates the way South Korea did.
President Ma did not come out tops for his policies neither did he deliver his promises in 2008 when he won the presidential elections, taking back control from DPP. An annual economic growth of 6 per cent, a per capita GDP of US$30,000, and an unemployment rate of below 3 per cent. Youth employment rates is now hovering at 12 percent current (might be wrong, numbers could be lower from the time I read the article from the papers)
The economic-growth rate has halved every decade since the 1990s, and Taiwan’s gross domestic product (GDP) grew just 0.75 per cent last year. The government slashed the 2016 growth forecast from 2.32 per cent to 1.47 per cent because of subdued international demand for exports.
Taiwan spends 6 - 7 percent of the GDP for healthcare alone, pension scheme 60,000 NTD for retired civil servants plus a savings rate of 18 per cent. Pension scheme is set to rise to an all-time high of 7.37 per cent, or NT$147.2 billion in 2016, of the total government budget.
The overall lack of investment is also a problem. Domestic firms are conservative on investment, and are sitting on cash mainly because of the unstable political environment and industrial policy. Foreign firms face additional hurdles such as outdated regulations, strict labour policy, and cultural and language barriers.