cfimages: It will be a problem if you ever want to send your kids abroad to study. It will also be a problem in retirement unless you’re living fairly frugally now. I’m actually really torn about whether to stay in Taiwan or move abroad. As I wrote, I actually do like where I live right now.
saddletramp: Again, you’re talking about people who start businesses. All of the statistics I’ve seen regarding businesses is that they’re very far from a sure thing. Otherwise, everyone would be out there doing that instead of working for someone else. My father ran his own business for more than twenty years and did well for himself, but a) he worked ridiculously hard (as in 80-100 hour weeks), especially in the first five years, b) plenty of other people in his industry also worked ridiculously hard and still weren’t successful. It’s like looking at Warren Buffett and saying everyone can be a successful investor, or Kobe Bryant and saying everyone should go and start playing basketball.
Let’s just say though that every single English teacher in this country decided to go out and start a buxiban or pizza shop, however. Suddenly, there would be massive competition. Let’s say a whole lot of Taiwanese also jumped on the bandwagon and opened buxibans and pizza shops. There’d be even more competition, which is why for Taiwanese run buxibans, there is already a race to the bottom. In places such as Taoyuan, where I used to live, you could close your eyes, spin around and touch half a dozen buxibans practically anywhere in the city. Ten or twenty years ago, I’m sure there was an absolute killing to be made in running a buxiban. These days, the average buxiban laoban is probably grinding out 30,000NTD/month after expenses. Even if it’s slightly more, it’s still probably a very low return on investment, especially given that it’s also the primary source of income. In the case of foreigners, if every foreigner ran out and opened a buxiban (assuming such a person had the business acumen and starting capital), you’d see the revenue and profit of foreign run buxibans collapse overnight. Also, who would then work for anyone else? Likewise, with pizza shops, if/when Taiwanese figure those out (if they haven’t already), you’ll see the kind of stiff competition and low margins associated with plenty of other industries in this country.
The point is that a country doesn’t have a high standard of living and large middle class by following your suggestion. A country has a high standard of living and large middle class when the average person is well-educated and can do a decent, professional job without being trodden into the ground in the process. Yeah, I’ve known very, very successful people (both Taiwanese and foreign) in this country. Yeah, a lot of people in this country (both Taiwanese and foreign) are also lazy and useless. However, the vast majority of people in this country (both Taiwanese and foreign) are being exploited and being trodden under foot and the model of starting your own wildly successful business has probably been tried countless times and failed far more often than it’s succeeded.
Whole Lotta Lotta: I suspect the Taiwanese thirty-something women earning six figure (per month) incomes living at home are a real minority. What’s probably much more likely to be the norm is an average income of say, 25,000-35,000NTD/month for a woman of that age who has realised that even if she does get married, it’s probably going to be to a guy on not that much more than her, and they’ll never really be able to afford to have a family. I know lots of Taiwanese earning above the average here (but not by that much) who don’t live particularly extravagent lifestyles and they either don’t have kids or can only afford one. My kindy co-teacher, when I first came to Taiwan, told me she could never afford to have her own kids unless she married someone rich, and she was realistic enough to know that wasn’t going to happen. There’s something really screwed up about that I think.
Feiren: I’d hardly say NTU is a great university then, if it’s ranked 115th in the world. How easy is it to get into though, anyway? The studying kids do at junior and senior high school here blows me away. No wonder so many university students are burnt out. Without getting into NTU or one of the other top universities, what are the rest of the universities like? If you took an average state university in America, how would that compare, for instance? The tuition fees may be low, but is it a case of cheap and nasty?