Get ready for a decade of prosperity. I coined a new name for last year to next: 3-4-5.
3% (2020), 4% (2021), 5% (2022). Those are the economic growth rates Taiwan is projected to undergo.
TSMC will double its revenue in two years, Taiwan will be a regional R&D hub in more than just AI research, and Taiwan’s leadership in display technology will finally be commercialized.
You’ll be hearing some of the things people were saying about Taiwan a decade ago.
The education system may seem flawed, but it served its purpose, chiefly, to drag the people out of the rice paddies and factories and into the science parks. The system’s brutal emphasis on never making mistakes, that mistakes are shameful and to this day, corporally and emotionally punishable has bred a generation committed to academe like no other before it.
And rote they did. Sacrificed sport and art and leisure and dug into the short term memory art of the cram. And it worked, as Friedman so aptly pointed out a few years ago when he wrote that article. He actually made the rounds from FOX to Letterman talking about Taiwan and basically quoting that article in the interviews.
The blowback of course, is a somewhat social ineptness, coupled with a draught of creativity and a culture that dares not challenge the status quo. Making money becomes the prime directive and selfishness rules the day. The drivers, the laoban class, the salary slave, the owners of FoxConn…
And yet, there is kindness and community and evolution. The mei meis and jie jies are not settling for Prince Slob-a-lots, population is dwindling, and the economy weathers and flourishes. Since the writing of that article, Taiwan has only evolved. Another successful election, no bombs or half-baked assassination attempts, Taiwan plods forward, trends upward. China Lite.
Bizarrely, Taiwan managed to transition from being ruled by a bunch of vicious clowns to a more-or-less functioning government and legal system within a couple of generations, or at least one that delivers a manageable level of corruption and incompetence. That’s quite an achievement, and off the top of my head I can’t think of any other country that’s managed to do that quite so quickly, successfully and painlessly.
South Korea would be another example.
Its more to do with the culture , Chinese ethnic groups value hard work and material success more. So do the Vietnamese, so do the Koreans and the Japanese. Less so for some SE Asian countries.
Taiwan has done well to get to this point but it needs to pull up it’s socks and the KMT need to stop favoring the rich and asset holders all the time. It needs to make the move toward a more caring society in terms of pushing for higher wages, better social welfare provision, better working conditions, cleaner environment. These concepts have been quite slow to be implemented and Taiwan is very much a follower, when the Koreans do it the Taiwanese will think about doing it.
Mr_PBH
April 7, 2021, 8:32pm
2
"My back hurts. What topical ointment should I apply?
Andrew
April 7, 2021, 8:43pm
3
I predict that cake will still be posting about COVID-23, how masks don’t work, and how vaccines cause more harm than they prevent, all robustly supported by something some bloke said on Twitter.
The weather sucks! Taiwanese food sucks! Locals are [insert negative adjectives]…
Andrew:
I predict that cake will still be posting about COVID-23, how masks don’t work, and how vaccines cause more harm than they prevent, all robustly supported by something some bloke said on Twitter.
If there’s COVID-23, Taiwanese would still be stuck on the island and have seen nearly all nook and cranny of it.
If there is COVID-23, Taiwan is the richest place on earth.
There will still be drug busts involving foreigners
No they won’t. When incomes are higher the same food will taste better.
Hopefully a free and prosperous place. It’s not a given though.
DrewC
April 7, 2021, 11:40pm
10
Will there be one? I keep seeing articles that the US military thinks China will launch an invasion in the next 6 years.
Or we end up like the one club in east Germany where half of the members were agents for several different agencies/countries without any knowledge of the others being agents too.
TT
April 7, 2021, 11:50pm
13
I find that offensive. Did you even read the article? Good day sir.
DrewC
April 8, 2021, 12:20am
14
Yes, that is one of about a dozen I’ve seen the last couple weeks.
“Why is taking a shit such an event now?”
March 1, 2029
Cleaned the cave.
March 2, 2029
Spotted a Snow Leopard unit and was prepared to engage in hand to hand combat to liberate the nation and relaunch Forumosa but the wife wanted instant noodle and I had to raid Mr. Su’s kitchen again while he was out playing mahjong. We have been coming out of the cave to steal his instant noodle and borrowing his microwave for 2 years now. Don’t think he suspects anything. These mainlanders sure are oblivious.
tando
April 8, 2021, 1:10am
17
Which is the best bank to open an account?
/place to live/school for kids/hospital/phone plan
What is my tax rate? When can I get my tax return?
Can I stay after I quit my current job?
How can I apply for my passport/visa/ARC/APRC?
Will China invade?
What will you do if China invade?
finley
April 8, 2021, 2:01am
20
But the portions will be smaller.