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Why is Taiwan not richer than it is?

SeyiXam
By SeyiXam | self meida writer
Published 7 months ago - 58 views

Of course China plays a huge factor. But regardless of the rant from western media or Taiwanese media, China has not imposed anything that actually punish Taiwan economically. And one can hardly blame China for merely growing itself economically. For place like Singapore, it re-positioned itself to benefit from the growth of China. Taiwan let its politic got into the way. It is entirely possible to work with mainland while maintaining its own political stance. But the politicians, in pursue of votes, radicalized the general population. Anything related to China have to be bashed. No politicians at this point can advocate for a cooperative relationship with mainland, no matter how beneficial it would be. Meanwhile, nothing is going forward within Taiwan. Most of the once-glorious industries have been coasting for years. The well known names are slowly disappearing and no newcomers are taking their places. I was talking to someone from Taiwan in my field. He mentioned that most companies are focusing more on cost cutting instead of looking for growth. I think semiconductor industry is the only relevant one internationally.

And that leads to a huge issue in brain drain. There are about 400k to 700k Taiwanese (out of 23 million) working in mainland. If you remove the children and retired from the total population, that’s a significant portion of the workforce. If you go further and remove occupations such as taxi drivers, cleaners, etc., that’s a huge number. And we are not even considering the number of Taiwanese working in other countries. Remember these include some of the best talents in the island. So in summary, Taiwan is not as rich as it could be because it refuses to re-position itself even though China’s rise has changed the economic environment both regionally and globally. Furthermore, it let politic get into the way of logic decision so it backed itself into a corner in term of growth and development. Right now, tourism seems to be the major industry.

Content created and supplied by: SeyiXam (via Opera News )

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