For example, Germany has used its robust small and medium-sized business sectors to strengthen the reputation of the country’s manufacturing industry, while Switzerland has attracted the attention of investors and won consumers’ trust and respect.
As far as economic development in the medium to long term is concerned, Taiwan is well-placed within the region, and continues to hold an advantage in foreign investment and technology exports.
In addition, people are becoming increasingly aware of the need to fight corruption in our politics, and this attitude has already taken root in Taiwanese society.
Taiwan will find a way to address environmental conservation and sustainability, the problems in the pension funds and the need for judicial reform.
Taiwan is going to be fine.
Lu Hsin-chang is an associate professor of international business at National Taiwan University.
Translated by Paul Cooper