Will Taiwan become the richest country on earth?

There is already vast wealth owned by rich Taiwanese families , and they are mostly getting richer going by the stock prices and factory investments and property prices.

Taiwanese also control more virgin island shell companies that any other nationality.

Unfortunately the money seems to have a very hard time spreading around in Taiwan …There’s a strong case for increasing the minimum wage substantially and also redistribution policies especially investment in primary and secondary school and also cleaning the place up…Stop it looking like shit in half the urban areas…Clean the rivers up and knock down all the crap out there and rebuild.

Have some vision !!! You aren’t a poorhard Scrabble country anymore !!

Those chip factory owners yes…They are new oil barons …And Hsinchu is the new Houston (Taichung is Taiwan’s new las Vegas lol).

Pity that Hsinchu is so rich and getting richer at a prodigious pace but so Goddamn boring.

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This so much. When I tell people there’s nothing here they think I’m just being dramatic, that is until they come to visit lol.

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It’s funny because it’s just out of reach of any other decent city to be easily commutable . I heard many rich housewives complain about it lol.

https://worldpopulationreview.com/country-rankings/median-income-by-country

Don’t know how accurate this website is, but Taiwan ranks 26th in Median per-capita Income, and 16th in Median Household Income.

Yes median income (doesn’t say “per capita”), and income is roughly equal to GDP.

No, because global politics will get in the way and “strongly suggest” a few changes to the current setup of TSMC et al. As is already happening.

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I can only see Taiwan Semicon industry continuing to prosper and grow and grow because of the insatiable demand and advanced supply chain here. One car needs hundreds of chips.

The only real risk is the baddy next door.
The other limiting factor to growth could be Taiwan’s natural resources.

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I think that site is using an oxymoron. It’s trying to distinguish individual income from household income, but as a result sounds awkward.

Better wording would be “Median individual income.”

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That’s a valid argument. I think the fabs TSMC is building abroad are just token stuff and not the most advanced. US is close, but for the other places:

Japan: It’s mostly a packaging plant.
Germany: Only for auto chips, and not the most advanced.

I’m more worried about the dwindling talent pool. We’re gonna need immigrants ASAP.

Why isn’t that enough? As long as they continue diversifying away from Hsinchu and letting other regions join the party it’s fine imho.

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They are constructing factories all over the West coast. Taichung, Miaoli , Kaohsiung , Tainan etc.
So yes it’s spreading the wealth for those areas somewhat. I can see it in Zhunan in Miaoli . They also suck up those places water and farmland and require massive power though. There’s always a trade-off .

There’s another local gold rush…Wind power…Again not sure how much of that trickles down to local people but overall it’s a good thing .

One would think they will need to import a lot more engineers soon as well as migrant workers amongst others. Let’s see!

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What are the factories you mention going to produce?

Chips, but also chip testing and packaging services. There a whole advanced supply and service chain associated with this industry which is why its pretty much guaranteed to stay firmly rooted in Taiwan.

Technology sector in Taiwan's Miaoli to offer over 1,000 jobs | Taiwan News | 2021-02-21 19:46:00 (I think this plant is some kind of testing/packaging facility, I don’t think it’s making any chips)

ASE invests NT$26bn in new fab - Taipei Times (ASE)

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I was hoping you weren’t going to say that. A lot of toxic byproducts from manufacturing that stuff. Of course if your waste management practices are sound, and enforced well, then no problem…

I sure hope you are right. But somehow i doubt the best is staying inside taiwan. I can see things slowly going downhill once tsmc is fully operational abroad.

In Finland, they call the forest “green gold.”

If you put 900 million slaves to work then your economic output cn be huge.

It’s not like everyone can start a chip or chip packing company, it’s kind of limited due to huge investment and research.

wasnt there a thread where taiwan was supposed to become very poor and now the richest country?

The wealth trickles down in many ways.

Because TSMC is so desperate to build plants, construction workers have seen their salaries go up by 1/3. Plus the engineers spend tons of money in the local economy.