headhonchoII wrote:Taihan, you say the economy was 'robust until last year'. I take issue with that, its clear it has been quite bad for the last 8 years if you ask any regular workers here how much they have been getting paid.
headhonchoII wrote:There's very little real foreign investment in Taiwan , anyone who works in business here will know that.
Quoting some 'facts' from the CIA doesn't make it right.
taihan wrote:So you rate the strength of an economy is based on whether wages grow or not? How convenient for you to choose THAT benchmark. Sorry, but you can't convince me that a borderline developed country with a GDP growing annually at 4.6%, an unemployment rate of 3.9%, where per-capita income is stagnant but still at $29,800, and where consumer inflation is 1.1% is in a sorry state.
The figures come from the 2008 CIA World Factbook. In fact, the CIA obviously doesn't share your clarity about the gloom and doom situation in Taiwan until last year.
headhonchoII wrote:A lot of these numbers are meaningless, especially the FDI figure. If you check into that you will realise that most FDI in Taiwan is from Taiwanese owned foreign registered firms who had previously moved their capital out of Taiwan for whatever reason. Other large amounts listed as FDI are actually strategic partnerships where Japanese companies co-invested with local companies in their foundry/LCD plant production. It's easy to know there is not a lot of 'real FDI' in Taiwan as you don't see many foreign businessmen or executives working here.
There are many small companies operated by Japanese in particular here taking advantage of weak NT to export stuff to Japan. There are also many businesses opening direct sales offices rather than going through distributors, the net effect on the economy is pretty much the same after the distributor loses the business.
The same phenomenon exists regarding tourist numbers that are regularly touted, while hiding the fact that many of the visitors included in the 'tourist numbers' are here on business.
Other figures quoted here are suspect, for instance cargo figures. Is Kaoshiung (Gaoxiong) (Gaoxiong) really handling more trade now than 10 years ago, I don't really believe that, it used to carry the most cargo in the world. And as the previous poster said, weak growth leaves Taiwan far behind countries such as Korea which have forged ahead.
TaipeiDawg wrote:It's a bit conflicting to say there are less foreign businessmen working here yet saying that the tourist numbers are inflated by people coming here for business. Anyway, I daresay that less companies are sending people to Taiwan on expensive expat packages when there is a highly educated workforce here that is generally competent in English - not to mention a stable business environment.....
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