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What Taiwan and the US have in common? April 27, 2013

Posted by hslu in China, Economics, Global Affair, Politics, Restaurants.
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Hollowing out in the middle! That’s what Taiwan and the US have in common!

It is sad but truth.

The only differences are:

1. Taiwan is in a much advanced stage in this path to destruction while the US is starting to pick up the pace.

2. China did most of this to Taiwan by draining capitals and brain power from Taiwan. Korea and Singapore also contributed to Taiwan’s downfall. 馬英九’s incompetence and gridlock in Taiwan’s government didn’t help either. In the wake of this giant sucking sound since the middle of 1990’s was the flourishing of service-oriented sectors in Taiwan: tourism, restaurants, hotels, taxi, massage parlors and night markets. The riches are richer from their operations pin China while the poor was making lower and lower wages because the service industries don’t pay a lot.

3. Global competition in many sectors has squeezed the American’s middle class out of once good paying jobs. The proof is clearly demonstrated by the 90 million people who are not working but who are not counted as unemployed by the Labor Department. These people have been out of jobs for so long that they are not actively seeking employment any more. They have simply given up looking. Well, that’s why the official unemployment rate in the US is now 7.6% instead of 14+% or so. The Main Street media hides this truth from the American people but the bleeding from the middle has been painfully real.

Just read the article by National Journal and you’ll see the sorry state of the United States.

http://www.nationaljournal.com/next-economy/solutions-bank/being-in-the-middle-class-means-worrying-about-falling-behind-20130425

With Bernanke printing money day and night, the United States is tracing Japanese’s path of lost decade(s) by piling up debt, perpetual anemic growth and ultimately a shrinking economy.

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