(IBNS): Taiwan-China geopolitical tension created a loop for Taiwan in the Indian news headlines. We can further leverage this pinnacle tension period to explore Taiwan.
There are many focal points to note about Taiwan in today’s world. While we talk about Burj Khalifa, the Taipei 101 was not that well known to the world.
It is the first skyscraper with a height exceeding half a kilometer, and needless to say that it was the tallest building before the Burj Khalifa.
Taiwan is a preeminent destination for the high-tech industry, it also wraps everyone with love, affection, and empathy to the extent that few foreigners even feel proud to tattoo the word “台灣” (Taiwan) on their foreheads.
During the Covid era, Taiwan has engraved its signature by successfully containing the Covid-19 spread. Roughly 100 miles (160 km) off the coast of southeastern China, with 10,000 passengers a day, it was not easy for the island to contain the Covid spread without a single-day lockdown. Its widely appraised health care system, tech-savvy mindset, and adequate government protocols are the keys to the achievement of such success.
And their proactive maintenance system crowned Taiwan with a GDP growth of 3.11% in 2021. Taiwan is also much-admired as one of the “four super innovators” alongside Germany, the U.S.A., and Switzerland. Many tech experts say Taiwan would play a crucial role in the next Industrial Revolution. But to ordinary people, due to a lack of awareness, Taiwan remains under a curtain. Here is an endless list to acclaim Taiwan as any foreigner’s best destination.
For example, being a tech guru, Taiwan has been taking the steering wheel of the world semiconductor industry and is admired as the leading chip manufacturer. It fills the gap of more than 50% of the total global supply and 92% of the advanced semiconductors.
In this high-tech century, we have witnessed the chip crisis lead the world to unrestful tech productivity, and Taiwan is the Messiah to the world.
Their success story does not limit to industrial advancement, but the country is well known as one of the most convenient countries in the world. As an aging nation, Taiwan has raised its level of convenience in every aspect, from transportation to 24 hours convenience stores. Their obstacle-free facilities for the old and disabled are learning lessons for the modern world.
A population of 23 million cannot be lucrative for huge market placement. But this band-savvy people buy the highest amount of luxury cars and fashion items in the world. Name a famous brand, and you can find it in Taipei. As a corporate consultant, I have seen the market impact of a high range of fashion brands on this island.
Today Taiwan is home to 5,000 Indians. Students and expats from different locations bring rich Indian culture, and a unique diversification could be noticed herein. With an expected increase in India-origin population, Taiwan is ready to welcome foreign talents from various countries, among which India is one of its preferred lookouts.
Amid Covid-19, when the world is facing employment termination and an unbalanced employment ratio, it is worth noting that Taiwan recruitment platforms are wide open to skilled and talented people, including students. With top-listed universities and advanced research facilities, Taiwan has become a strong contender as an emerging destination for higher education too.
Eyeing this positive collaboration, India and Taiwan continuously aim to secure their mutual endeavors. There is a possibility that India’s aims to establish a manufacturing hub might get a little escalated through Taiwan’s outbound investment.
In recent years, China-based-Taiwanese businesses started to shift their investment to India. About 150 companies, including Pegatron, Wistron and Foxconn, have relocated to India.
This move will not only create a better alternative to China-made products, but also boost employment in the local market. Therefore, it might be time to introduce India – Taiwan’s core competitiveness and mutual collaborative pattern to their general population. And this mutual recognition can only extend to sustainable cooperation.
(The writer is a senior legal consultant with Louis & Charles Attorneys at Law, Taiwan)
CommonWealth Magazine/IBNS
