Hacker News new | ask | show | jobs
by alephnerd 868 days ago
> The average annual salary for full-time employees in Taiwan reached an eight-year high of NT$694,000 (US$22,242) this year (2023).

I am the complete opposite of a CCP shill, but that is by definition stagnation.

The 2015-16 recession was brutal in Taiwan [0]. It basically was a lost decade.

South Korea and Japan ate Taiwan's market in the upper bracket, and China ate Taiwan's market in the lower bracket.

[0] - https://www.cnbc.com/2015/10/30/taiwan-gdp-falls-for-first-t...
1 comments
berserk1010 868 days ago
Not really seeing a "stagnation" using a graph, in the last 6 years

https://www.ceicdata.com/en/indicator/taiwan/annual-househol...

13k in 2017, 17k in 2022, 30% increase. and 22k in 2023, 30% increase.

the stagnation from 2011 to 2017 is due to the pro-China president from 2008 to 2016, which fueled market and investment losses going to China. That reversed in 2016 with the Pro-Taiwan president.

link
hmm37 868 days ago
When you actually show the rate of change from e.g. 2014-2022, it's about 3.5%. Inflation being about let's say 2% over those years. Although the fact that it's reported in USD probably matters as well to really understand the economy. Anyways, the average salary in Taiwan across the entire workforce was just under NT$41,000 per month (median being surprisingly close to that figure), which is comparable to many cities in China. Also you can't compare 2008-2016, the US caused GFC caused a lot of issues. 2015-2022 household income also corresponds with how China was doing in terms of exports, since China was rapidly expanding exports around that time showing probably there's a pretty strong tie/correlation between the two regions.

The fact that Taiwan GDP per capita is close to surpassing Japan's, shows how poorly Japan has been doing despite its stock market.

link
alephnerd 868 days ago
I tend not to trust CEIC - they have had issues converting data over time periods, which is critical for the NTW as it has been extremely volatile over the past decade.

For now, let's use Monthly Household Income sourced from the Taiwanese DGBAS and in NTW [0]

In 2016 it was NTW 84000 but by 2022 it was NTW 99000, which isn't a significant change, especially factoring the craziness the NTW has had since 2016.

> stagnation from 2011 to 2017 is due to the pro-China president ... That reversed in 2016 with the Pro-Taiwan president

It wasn't a DPP vs KMT issue. China had a stock market crash in 2015-16 [1], and Taiwanese companies were heavily exposed, as China is Taiwan's largest trading partner by a longshot. On top of that Taiwanese companies were already facing the brunt of the collapse of the CSSTA [2].

[0] - https://tradingeconomics.com/taiwan/disposable-personal-inco...

[1] - https://en.wikipedia.org/wiki/2015%E2%80%932016_Chinese_stoc...

[2] - https://en.wikipedia.org/wiki/Cross-Strait_Service_Trade_Agr...

link