I can’t use cash if every time I want to transfer it here from US it takes a three weeks AND I have to go in and sign for it. Plus fees are a nightmare. I NEED virtual banking
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I think you missed the point of my post.
@bdog mentioned digital everything. I just want choice and to have both.
The app is probably leading me on.
I signed up in US. Hopefully it works the same.
I highly doubt it. Taiwan is a financial island onto itself and they DONT want competition .
Maybe they had the same realisation Paypal did?
To be rich in Taiwan you have to be over 70 years old, lol
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I agree with marco, getting rid of phyiscal currencies will be the beginning of the end.
Having both is easy. Bank transfers from the usa to here take a week or less and 200nt fee on this side. I agree mailing things would be slow and impossible.
We already have about the necessary level of digital currency a is with banking, credit cards,online everyhing. The systems could be refined.and made less corrupt, but all your governmentto think about dumping cash. ever.
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Your fantasies notwithstanding, Taiwan has never had a housing bubble pop in the modern era.
Housing has also been seen as a good investment and a default way for households to store value as their wealth increases because abrupt drops in housing prices are largely unknown. The pro-market housing policies enacted since 1990 have played an important role in stabilizing the housing market.
Major problems in Taiwan are ageism and sexism and racism in the workplace. And lookism (hiring for looks). I like that McDs abd MosBurger don’t discriminate the same way as S and L coffeeshops (and many many establishments in Taiwan franchises and independent) seem to. Notice how few fat, old or ugly people they hire.
I think we have almost nothing good to learn from the island of bosses except that it can be good to be the boss !
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Line and Rakuten.
So what about those who are old, ugly and not a boss?
Hope for government handouts because no one will hire them at even minimum wage?
That’s why EE’s here get so low pay whilst in many western countries the salary is incomparable. How many EE’s major graduates per 100k graduates here vs any major country in the west?
So when 80 percent of all jobs become automated then what? A dystopian future where the few is extremely rich while everyone else starves because there are no jobs?
They will get food! Look at homeless around Taipei station at night, they don’t look hungry. Very few people go without food in Taiwan by choice, I am such gov or rich will keep funding food banks (shout out to Carrefour for helping here as well some other companies, not all are evil!)
Some coercion is going to be necessary. Those who owns the machine must be taxed to fund a universal basic income.
But what country out there isn’t good to be bosses?
The iron law of wage says wage will always decrease.
Where do you think we are heading to in the next 50 years?
Wait, I asked about food banks and could not find any. In fact the few I found requires application process that’s means tested, not unlike food stamp in the US.
In fact means tested programs in taiwan is so hard to get that I came to the conclusion that it’s not meant to help those who truly needs it, but is just there so the government could say they care.