shortsighted PHDs

Taipei Times - archives

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Premier Wu Den-yih (吳敦義) has said the 17 percent tax rate was determined by looking at Singapore and that the cut is intended to increase Taiwan’s attractiveness to foreign investors. The difference is that while Singapore relies on the service industry for its growth, Taiwan’s specialty is manufacturing. The economic structures of the two countries are different and offer different advantages, which means that the conditions required for industrial development differ even more.