As one of the least pandemic affected economies, Taiwan scored a tax surplus of over approx. US$15 billion in 2022, the Tsai administration announced a US$200 (NT$6,000) tax rebate to be paid out in April as cash to every Taiwan citizen. Since COVID-19 unraveled in Wuhan, China, governments around the world have introduced stimulus packages to keep their economies afloat and help the most affected. Taiwan Talks explores the effectiveness of cash handouts. From the Americas to Asia, does it really get to those in need or is it a political strategy to boost popularity? In this episode, Stephen Tan, International Policy Advisory Group Managing Director, and Yen Chen-shen, National Chengchi University Political Science Professor, discuss the meaning behind Taiwan’s Year of the Rabbit cash handout and how it compares with other countries.
Topics discussed:
- How Taiwan’s cash rebate compares to COVID relief payments in the U.S., Japan, and Korea
- Cash Payout Purpose: Giving back to citizens from economic overperformance or COVID relief?
- Cash Payout vs. Stimulus Vouchers: How 2023 cash payouts compare with the effectiveness of previous stimulus vouchers that targeted spending at effected industries (e.g., tourism, dining, recreation)
- Post Zero-COVID China: How the abrupt opening up of Chinese borders and COVID restrictions will affect Taiwan and the global economy
- Will there be another wave of COVID infections that could shut down international borders with the record number of cases coming out of China?
- Pandemic Politics from Trump to Biden: Do cash payouts help current administrations in maintaining support?
- Effect of cash payouts on Asian politics from Taiwan, Japan, to South Korea
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