Starting to bite

The recession is starting to really bite.  According to the latest trade figures, Taiwan’s exports fell by 41.9% in December.  And this is a problem since exports account for some 64 % of Taiwanese GDP (the equivalent figure for Sweden is 53% and for the US a mere 8%).  The center of export industries is our little town, Hsinchu, with its enormous science park.  Clearly the world no longer wants our computer chips and LCD screens.  It’s Econ101: supply and demand.  There are now “for rent” signs on shops all over town and the parents in the girls’ school are beginning to be laid off.  “Are we going to lose our friends?”  This could get really nasty before it starts to get better.

As a foreigner, it’s easy to feel under pressure.  I haven’t seen any signs of xenophobia yet, but why, after all, should foreigners get jobs here when there aren’t enough jobs for the Taiwanese?  Not knowing what the future will hold makes it difficult to plan, to buy that house we’re longing for.

On the other hand, universities are great places to work in times of recession.  After all, where are all the people going to go if they can’t find a proper job?  Of course, they go back to university.  There is likely to be more rather than less demand for university teachers.  Lets hope so anyway.

Starting to bite

The recession is starting to really bite.  According to the latest trade figures, Taiwan’s exports fell by 41.9% in December.  And this is a problem since exports account for some 64 % of Taiwanese GDP (the equivalent figure for Sweden is 53% and for the US a mere 8%).  The center of export industries is our little town, Hsinchu, with its enormous science park.  Clearly the world no longer wants our computer chips and LCD screens.  It’s Econ101: supply and demand.  There are now “for rent” signs on shops all over town and the parents in the girls’ school are beginning to be laid off.  “Are we going to lose our friends?”  This could get really nasty before it starts to get better.

As a foreigner, it’s easy to feel under pressure.  I haven’t seen any signs of xenophobia yet, but why, after all, should foreigners get jobs here when there aren’t enough jobs for the Taiwanese?  Not knowing what the future will hold makes it difficult to plan, to buy that house we’re longing for.

On the other hand, universities are great places to work in times of recession.  After all, where are all the people going to go if they can’t find a proper job?  Of course, they go back to university.  There is likely to be more rather than less demand for university teachers.  Lets hope so anyway.