Taiwan’s Wages Are Lower Than Countries with Similar GDP per Capita
In short, Taiwan needs to be genuine about its practice of human rights, and align its labor rights with its advocacy of democracy.
In short, Taiwan needs to be genuine about its practice of human rights, and align its labor rights with its advocacy of democracy.
Until Taiwan acknowledges that it needs major reforms to dramatically raise wages and reduce housing prices instead of only piecemeal improvements, Taiwan will continue to be too severely divided to govern.
Taiwan will be reviewing its minimum wage in the third quarter of this year, but despite annual increases to the monthly minimum wage since 2017, Taiwan’s average wage growth has not been catching up.
Due to Taiwan’s wage suppression, Taiwan has lost economic growth, and growing wages faster can enable Taiwan to recover its lost growth faster.
Taiwan and Singapore have both been held up as models in responding to the COVID-19 pandemic. However, Taiwan has handled its “second wave” far more ably than Singapore.