Taiwan faces brain-drain nightmare
Taiwan’s trade competitiveness has fallen for four consecutive years, according to the Importers and Exporters Association of Taipei 2017 Survey on Global Trade Environments and Growth Potential in Key and Emerging Markets, published today.
Out of the 54 countries surveyed, Taiwan is still in the “A list” of “highly recommended” countries in which to trade, although this year Taiwan has fallen to the bottom of the grouping. According to a report by the association, there are three key reasons for the decline: the competitiveness of emerging markets, Taiwan’s low salary environment — which has lead to a talent gap — and an over reliance on the Chinese market.
Taiwan has slipped in all of the survey’s rankings. It is now ranked 13th for competitiveness, while the US pushed Singapore out of last year’s position at the top. Singapore and Germany took second and third place, respectively. On trade liberalization, Taiwan was ranked 18th, with the US, Singapore and the Netherlands taking the top three spots. Taiwan is now ranked 20th for trade convenience and speed, with Singapore, the US and Germany taking first, second and third place.
According to the report, the UK’s Oxford Economics forecasts that by 2021 Taiwan will have the most acute brain drain headache of any country in the world.
Source article: http://www.taipeitimes.com/News/lang/print/2017/02/27/2003665752