What's Taiwan's Secret to Success? - Taiwan Undaunted Ep2
The Economic Miracle of the 1950s-1990s transformed Taiwan into a world economy ranked 22nd in the world, with comparatively low-income disparities, universal public healthcare, excellent education, and low crime. A business ecosystem of small to medium sized enterprises boasts several world players but these ‘hidden champions’ aren’t necessarily known to global consumers. The key is entrepreneurship based on a culture of trust and family bonds. The Post-war KMT government focused on small, and mid-sized companies because the state was wary of large capitalist entities. Land to the Tiller reforms encouraged the proliferation of unthreatening family-run enterprises and the state provided the quality control necessary to compete in foreign markets. Today, TSMC produces over 90% of the world’s most advanced chips. However, the success of this one large company is actually contingent upon a network of decentralized manufacturers within specific geographical areas that drive the entire production process. It’s impossible to understand Taiwan’s place in the global supply chain without looking at the bigger picture. Social movements were similarly built on interpersonal relationships. The earliest form of group dissent against the government came from environmental protests against excessive environmental pollution in the name of greater economic growth. Environmental activists also found kinship with Indigenous groups campaigning for recognition, equal rights and the return of ancestral land. These set the stage for other social movements in Taiwan, which took hold throughout and after the period of democratization from the 1990’s onwards. A free and independent life is important to everyone in Taiwan. The biggest consensus across society is to protect democratic government, freedom of speech, and human rights. This is a space in which Taiwan remains undaunted.
