In the keen competition between the two sides of the Taiwan Strait, Taiwan has always been proud of both its democratic and economic development. Taiwan's recent economic performance, however, shows signs of rusting as "China fever"
Formosa Plastics Group
Minister of Economic Affairs Lin Hsin-yi
The business environment in Taiwan is worsening daily. Wages are rising and after the official workweek is shortened on Jan. 1, it will be more difficult to recruit sufficient manpower. The government has often been at a loss over what to do when companies are dealing with high land costs and protests from local residents. With the cancellation of the Meinung Dam (
On the other hand, China, with its cheap labor and land, ample raw materials, huge market and speedy economic growth is aggressively developing its economy. It not only woos businesses with low taxes but also assists them in land acquisition. Investors from Taiwan and the rest of the world have been drawn by China's excellent business environment. Taiwan's "no haste, be patient"
In fact, China's market poses a "fatal attraction" for Taiwan businesses. It is extremely risky to invest in China, given the Chinese authorities' lack of respect for the law. We have heard many stories about Taiwanese and other foreign investors being bilked by Chinese officials or suddenly ending up on the wrong side of the law. China also maintains tight control over currency flows. Remitting capital out of the country is difficult. Even if a business does make money in China, it must spend considerable energy remitting its profits.
Instead of relying on slogans, our government should take action before the balance tips against Taiwan in this cross-strait economic war.
Taiwan risks losing the basis for its self-determination if it loses the economic edge.
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