40 years. High-octane economic growth with corresponding rise in wages. Compressed the same industrial revolution that took the West two centuries. Only hiccup was the oil crisis. Land reform created the most equitable income distribution in the world. Like all the other Tigers (except maybe HK), Taiwan suppressed wages by shutting down unions, but they still increased proportionally.
10 years. Solid economic growth without a corresponding rise in median incomes.
10 years. Both anemic economic and wage growth.
Most of you were here for only the last twenty years at most. With the economy turning around, which scenario is more likely going forward?
Let’s look at problems with fundamentals. Brain drain? Been there, done that. Easily reversible.
Low birth rate? If you live in Taiwan and you’re smart, you can look around and see that among the reasons for this is low wages. Shinzu has the highest wages and the highest birth rates. Easily stopped, also reversible, though probably a little harder than brain drain.
Quite a lot of us are in business here. Families, the works. Our specialties might be specific, but likely a lot of experience and knowledge. Not everyone is a kindy teachers getting drunk outside 7 everynight ranting on about whatever.
Being of foreign culture is often a great asset as it is easier to spot issues and mend them. much like immigrants in west, they see the issues there and can jump up the ladder easier (when motivated) as they see problems from the third person.
Plus anyone that likens temself as an expert on any culture is either an arrogant douche or a teacher/academic no one worth cooperating with takes either very serious.
I disagree with the OPs premise, as I understand the economy of Taiwan is mostly based on chips, and the thinness of said chips.
A perambulation into any typical convenience store in Taiwan could render you familiarized with the different brands of chips, and thicknesses versus thinness’s.
The measurements between different brands of chips often comes down to nanometers, which can be a challenge for the uninitiated, ignorant consumer.
As an English teacher of 17 years standing, I can truly say:
Brain drain in Taiwan is not just wages, jobs in Taiwan are pretty specific and tedious. If you are in any creative industry , makes sense to be in china or elsewhere.
The wage issue seems to apply more to top STEM workers only who can get higher wages in the US or mainland China now. The strength of the US Dollar inflates the perceived wage gap (TWD lost about 15% to USD last 5 years). China’s rise seems to have made Taiwan more isolated economically as multinationals would rather invest in the mainland.
PS. I have no idea wtf I am talking about but whatever…
The main problem is the security threat and political problems preventing /reducing multinational regional operations and country rep offices settiing up here.
The threat does make me think about things and I’m a long time resident well established .
Some companies are being pressured by China to subsume their Taipei office into an entity called greater China. Bullahit but have seen it happen. This further reduces visibility of Taiwan.
Taiwanese Americans won’t come back unless daddy tells them to come back to take over the company, usually that kind of thing. Or the postdocs / professors who get homesick and get a gig in a uni here. Yes it’s a generalisation but fair one I think from what I have observed. Anyway second generation , vast majority won’t be moving to Taiwan. First generation have different drivers, but if they go to America it’s different than going to China. Many of them going to China will come back eventually .
no one worth cooperating with takes either very serious.