The schools produce what industry requires. A problem is that the rest of the world is moving/moved to focus on service and experience economies. They require thinkers, makers and “doers”, not just people who are good at process oriented tasks.
Some companies are starting to automate and bring back production to their countries. China is becoming too expensive for some manufacturing.
Before WWII, Japan had already developed very advanced industry and economy. As a matter of fact, Japan, learning from the British the initial design of air carrier, was the first nation to build a working military air carrier. This country dared to fight the Britain, the US on the Pacific and China on the mainland. That shows how advanced Japan was. Its stellar recovery after the War is another miracle. It’s not a shame for Taiwan to pick up what Japan not wanting to do.
We need a pretty Taiwanese girl to rope him in and bring him to the Island like only Taiwanese girls know how to do.
1 Like
A Taiwanese delegation was the biggest winner at the 2017 Hong Kong International Invention and Design Competition (IIDC), the fourth consecutive year in which a delegation from Taiwan has come out on top, the Taipei-based Chinese Innovation and Invention Society (CIIS) said Friday.
The delegation took 40 gold medals, 21 silvers, two bronzes, six special awards and two youth special awards at the competition, hosted by the society in Hong Kong.
Among the award-winning works by Taiwanese inventors was a water irrigation system that takes water from wash basins to be filtered and reintroduced to water plants.
Another innovation homerun for Taiwan industry.
Problems
-record Low foreign investment for years and years
-extremely low rate of foreign professionals and permanent migrants moving to Taiwan
-cratering youth population drops demand
-place still too messy ugly , polluted and lack of foreign services to attract well heeled global set to move to (think Singapore )
- tax rate on high salary earners
Main problem is of course CHINA.
However Taiwanese government and business owners are too old and set in their ways. Seriously check their age profile…Hopeless. They change cabinets and ministers but they all have the same policies almost.
As for industries, finance industry here is a sclerotic joke.
IT not much better except for some app developers.
Tourism was going well but tourism is usually not a big contributor to an economy.
Semiconductor industry is massive but the wealth seems very concentrated. Probably because it doesn’t need many workers per productive output (compared to IT).
Only good news was I heard Binance want to hire a bunch of developers here.
Lets say Taiwan declares independence. China engages with its military, but the rest of the world steps in and China backs down granting Taiwan independence once and for all.
Now that Taiwan is free to be recognized and traded with as an independent nation, would that boost or crash the economy?
Will never happen. China would nuke the place first.
I’m not joking either.
The real problem is CHINA and that’s why I’m not optimistic on any major uptick in the next few decades. A bit depressing when I state it like that. But at least living standards have improved.
Alright, lets say the opposite happens and Taiwan unites with China under special status as Hong Kong did. Would that really be all that bad? Would it really benefit the economy or would China rape Taiwans resources and industries as punishment for being a thorn in their side for decades?
There are a lot of rich people in Taiwan who built wealth in the golden years and Taiwanese are great savers who invest pretty wisely.
However many younger people mainly just sponge off their elders for the big ticket items， inheriting houses from their parents or grandparents etc. 30% of property transactions are interrfamily transfers…Something like that.
Some people in Taiwan would benefit hugely ie KMT and some big bizness types. Many property owners hope for this too. They know they need mass immigration abd investment to Prop things up.
But the whole place would be rapidly squashed down turned into Hong Kong. No freedom… Not worth it.
Also stuff would get more expensive.
You haven’t heard of kill the chicken, scare the monkey. Taiwan is the chicken, Chinese people are the monkey.
Things will get worse for Taiwan now that China has a new Emperor/dictator for life. Throw in some discontent from natural catastrophes or climate change or economic downturn…and Taiwan will be the proverbial chicken made example. Too many traitors willing to throw the place under the bus. Too much hatred as Taiwanese are accused of being Japanese lovers as a cover for hatred of democracy. That…and those in positions of power in government and military sponging the benefits of corruption in China means there are lots of interests in seeing Taiwan fail, made an example and if possible destroyed.
News reports today say only 10% of the people in Taiwan earn over NT$61,000 per month.
And there is a website where you can input your salary and see where you fall on the scale.
Stop reading those news reports on salary/income. They are complete bullshit.
1 Like
I agree but this was government sources speaking but who knows.
Seems correct to me. Here https://www.taiwannews.com.tw/en/news/3424171 it is saying the average salary is around 51k, and here it says https://international.thenewslens.com/article/91779 the median salary is somewhere around 35k, hence it seems to support that only 10% make over 61.
Note that this does not include all income that goes unreported, e.g. a lot of rental income and also some capital gains.
We can check government statistics here. In Chinese.
Just curious. Does that include benefits and overtime? I can’t find anything in the articles.