Sunday, July 31, 2011
Sunday, July 24, 2011
Travel to Taiwan
Taiwan is the first and the only democracy in China. You can see the future of China here. Taiwan is full of beautiful high mountains, with more than 100 peaks above 3,000 m elevation above the sea level. Taiwan is exciting, convenient, interesting and affordable.
Taiwan is also characterized by abundant rainfall and violent typhoon. It has an annual temperature of 22oC -- the hottest month, July, averaging 27-28oC and the coldest month, January, 15oC -- and an annual precipitation of over 2,000 mm. Taiwan is a country leading in technology use. This report covers trends and developments in telecommunications, mobile, Internet, broadband, digital TV and converging media including VoIP and IPTV developments. Taiwan is the world's fourth largest IC maker globally, and the second after the United States in IC design. Taiwan is among the world leaders in the manufacture of PC Notebooks, TFT-LCD units, computer peripherals and mobile phones.
Taiwan is an exciting new surf location. Surfing has been here for only 8-10 years, so you can imagine the number of surf spots yet to be discovered, let alone surfed! Taiwan is now a creditor economy, holding the world's fourth-largest stock of foreign exchange reserves ($261 billion as of August 2007). Although Taiwan enjoyed sustained economic growth, full employment, and low inflation for many years, in 2001, Taiwan joined other regional economies in its first recession since 1949. Taiwan is a free republic, a loyal American ally, a guarantor of civil liberties, and an engine of economic freedom. It does not deserve to be treated as an international pariah, or to be hastily shushed when it points out that it is China's political equal, not a rebellious Chinese province.
Taiwan is a cross point of east and west culture, of continental and oceanic culture. The shape of Taiwan is like a long and narrow sweet potato from north to south. Taiwan is an important global power in its own right. It is now the world's 16th largest economy,[4] the 10th largest trading power, and the third largest holder of foreign exchange reserves after China and Japan.[5] It has a larger population than Australia and a larger gross domestic product than any member of the Association of Southeast Asian Nations (ASEAN). Taiwan is known for its eminent mountain features that span from the north to the south of the island. These hard rock mountains had developed from series of volcanic activities during the past centuries.
Taiwan is a small island country off the southeast coast of mainland China. Not usually regarded as a top tourist destination in Asia, Taiwan is nonetheless a fascinating blend of cultures from the region. Taiwan is among few developing countries that announced specific targets to reduce its greenhouse gases emissions. The country made a commitment to stabilize its CO2 emissions at year 2000 levels by the year 2020.This paper intends to explore what factors lead Taiwan to pursue or eschew the adoption of renewable energy policies in the transitions toward a sustainable energy system. Taiwan is dominated by the Central Range of mountains which runs north to south, with the tallest peak being nearly four thousand metres high. In the east the mountains reach close to the sea, and in the west there is a fertile coastal plain which extends far and wide.
Taiwan is a democratic nation that respects human rights, freedom, and peace. Taiwan meets all the requirements of UN membership. Taiwan is a democratic society based on respect for human rights, while China is controlled by a tyrannical regime that tramples on human rights. Taiwan is a peace-loving society that poses no threat to anyone. Taiwan is also working to ink a free trade agreement with the United States, especially now that South Korea has done so. The U.S.-South Korea free trade agreement has created a lot of anxiety in Taiwan because it is feared it will increase competition in exports to the United States.
Taiwan is not generally recognized as a sovereign country internationally and is therefore not considered eligible for membership in nonproliferation treaties or export control regimes. The United States has taken an ambivalent official stance on Taiwan's status, recognizing neither the sovereignty of Taiwan nor the PRC's claim to sovereignty over the island. Taiwan is America's tenth-largest export market. Taiwan has Asia's fifth-largest military and Asia's second-largest merchant-marine fleet (after China's). Taiwan is also famous for it's many night markets and active temples, especially Snake Alley and the Lungshan Temple. If all the traveling wears you out, stop in at one of Taiwan's many natural hot springs for some rest and relaxation.
Taiwan is important to us. We don't want to wait forever. Taiwan is a steadily growing, medium-sized market for UK education. Taiwan is also hit by typhoons, usually from July to October. Travelers planning a trip to Taiwan can obtain general information about natural disaster preparedness on the Internet from the U.S.
Taiwan is special in having this population mix. What keeps them united then? Taiwan is a place in the making. Its a shaky place, but its an island with a future. Taiwan is an island located off the southeastern coast of China. Also known as Ilha Formosa, or beautiful island, Taiwan has been inhabited for over 10,000 years.
Taiwan is also widely known as Green Silicon Valley, a kingdom of manufacturing and high technical development in computer science. In the past 50 years, there are so many daily electronic components made in Taiwan and sold to the world. Taiwan is an especially attractive locale for recent graduates with student loans to pay and travelers looking to make a quick buck. There are several reasons for this.
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Calling China's Taiwan Bluff
Politics not economics is usually the first concern for most investors considering investing in Taiwan. For the next couple of years, both lead to a window of opportunity for investors with nerve and foresight.
There is little doubt that for the leadership of the Chinese Communist Party, Taiwan is a bone in their throat - a constant irritant - and most likely an obsession for some hard-line factions determined to bring Taiwan back into the fold of the motherland. So sensitive is the issue that an uproar ensued when Google deleted the words "Taiwan, a province of the People's Republic of China" during a recent routine update of its online map of Taiwan
Even so, any noise that Beijing will take near term military action against Taiwan is likely a bluff for five reasons.
First, any military conflict with Taiwan would surely cancel the Beijing's showcase 2008 Olympics. This would be a devastating setback for China's leadership and people
Second, Beijing's approach of working quietly to support more friendly political factions within Taiwan seems to be working. In the municipal elections held on December 3rd, the so called "Pan Blue" coalition, composed of parties more flexible regarding reunification with China than the ruling party, captured 17 out of 27 seats building on the coalition's success in the 2004 legislative election. In addition, Taiwanese President Chen Shui-bian's term will end in 2008 and Beijing is betting on a less strident and independent successor.
Third, although China is rapidly modernizing its military forces, U.S. treaty obligations to Taiwan in the event of an invasion cannot be discounted. In addition, President Chen, citing China's expanded missile program in his annual New Year's Day address, called for the legislature to approve plans to purchase more weapons from the U.S. to offset the buildup.
Fourth, a 2005 joint statement by the Japanese and U.S. governments that both countries had a "common strategic objective" to "encourage the peaceful resolution of issues concerning the Taiwan Strait through dialogue," raises the possibility of Japanese intervention making the military option even more risky and improbable.
Lastly, the economic integration of Taiwan into China is moving ahead at a breathtaking rate. Cross-Straits trade has doubled since 2000 to reach $62 billion in 2004, about 1 million Taiwanese have re-located to work in China, and Taiwanese companies now account for about 65% of hardware output from the mainland.
My view is that while calls for independence have at least temporarily been muted, the desire for a high degree of autonomy from China is still strong. There may be one China but there are three systems - China, Hong Kong and Taiwan. Perhaps the best solution is for China and Taiwan to formally agree to a long period of Taiwanese autonomy to see if China's system evolves into a more open, transparent system with rule of law and democratic institutions.
Taiwan with a population of 23 million and an area of 14,000 square miles (half the size of Ireland) is a remarkable success story. However, but Taiwanese companies will need to constantly innovate, make Taiwan a major R&D center and build strong consumer brands to avoid the it's economy from being swallowed by the mainland.
If you can get over the political risk and are ready to call China's bluff, Taiwan's stock market represents good value though you should expect some volatility. In his New Year's Day address, President Chen also called for Taiwan to maintain and nurture a separate identity and renewed his pledge to have a new constitution in place before he leaves office in 2008. Concerns about the remarks impact on China relations led the next day to Taiwan stocks day falling 1.3% but the next day the market promptly bounced back 2% to reach a twenty month high as investors focused on economic fundamentals. The laptop maker Wistron alone rose the daily 7% limit to an all time high.
Taiwan's stock market was up only 6% in 2005 lagging Asian markets such as Japan, up 42% and South Korea, up 54%. One company that had a great year is Taiwan Semiconductor (NYSE: TSM) which was up over 35% and still looks like a buy. It has a return on equity of 16%, a strong balance sheet and a low level of institutional ownership.
If you want more diversification, you should invest in the iShares Taiwan (EWT) exchange- traded fund. It has a 23% exposure to the semiconductor industry and Taiwan Semiconductor accounts for 14% of its holdings but it includes significant exposure to technology hardware, materials and banks.
In 2005, Japan, Australia and South Korea were the most successful China plays. In 2006, why not take some profits and place a bet on Taiwan, also known legally as the Republic of China.
Delfeld has 20 years of global investment experience including stints in Hong Kong, Sydney and Tokyo and served on the Executive Board of the Asian Development Bank in Manila. He was also a consultant to the U.S. Treasury and the U.S. Congress on international investing and is a columnist on global investing for Forbes Asia magazine.
For more information about Chartwell’s ETF investor advisory services, please go to [http://chartwelladvisor.com/etf_investing.html] or call Carl Delfeld direct at (719) 264-1503.
New Taiwan Dollar
Finally, it was the end of the year and I was so looking forward to my trip in Taiwan. We left Changi Airport Singapore early in the morning on Boxing Day and we were so looking forward to celebrate New Year at Taipei 101. When we were at Taiwan, I can't help but to notice that the currency that the locals were using was called the New Taiwan Dollar.
Think about it.. If you weren't a local Malaysian and you came to Malaysia and found out that Malaysians are using the New Malaysian Ringgit, wouldn't you be curious as well? So I started asking around, "Why a 'NEW' Taiwan Dollar?" Surprisingly, most of the local Taiwanese have no idea why it is 'new' not 'Old' Taiwan Dollar. Finally, my tour guide managed to give me a reasonable answer and I found out that the Old Taiwan Dollar is called the Taiwan Yen.
History of Old Taiwan Dollar
Long before we were born, Taiwan was under Japanese colonization and Taiwanese were using the Taiwan Yen during that period.
In Year 1945, Japan was defeated in World War 2 and Taiwan was returned to China, at that time ruled by the government of the Republic of China (ROC). Within a year, the Republic of China's government took over Bank of taiwan and started issuing Taiwan Nationalist Yuan (aka TWN) as a provisional replacement for the previous Japanese Tawan Yen at the rate of 1:1. This means that if you have 1 Japaneses Taiwan Yen, you can replace it for 1 Taiwan Nationalist Yuan. Sounds reasonable isn't it?
The Chinese Civil War
Taiwan suffered hyperinflation due to the Chinese Civil War in the late 1940s. In times of hyperinflation, the ROC government started issuing banknotes of higher and higher denominations, up to 1 million yuan to handle the inflation on the island. In times like this, savers who save lots of cash and put their money in the bank are the biggest losers! Why am I being so blunt? Because at June 15, 1949 the Old Taiwan Dollar was replaced with the New Taiwan Dollar at the rate of 1:40,000. This means that if you have saved a total of 40,000 Taiwan Yuan, you can exchange it for only 1 New Taiwan Dollar.
I've 2 questions for you...
Question 1: Imagine if you have saved really hard and got yourself RM40,000 and the government decides to revalue the currency and with the New Malaysian Ringgit (NMR), you have only NMR1. How would you feel?
Question 2: With the price of petrol and food increasing several times in Year 2010, will it stop in Year 2011? Chances are.. NO! In fact, I believe that the price of food and energy will increase tremendously in Year 2011 and beyond!
Lesson Learned: This is yet another prove that Fiat Currency can never rule the world. Ultimately, being a good saver alone is never enough. You need to be a smart one!
If you enjoyed this article from Jonathan Quek and would like to receive more information on how to achieve a successful money mindset and learn personal excellence or wealth intelligence principles that really work, then please visit: www.Jonathan-Quek.com.
Saturday, July 23, 2011
Taiwan Shall be Independent and Sovereign - An Economic Point of View
In 1949, on losing the Chinese Civil War to the Communist Party of China, the Kuomintang ruling clique, led by Chiang Kai-shek, retreated from Mainland China and moved the ROC government to Taipei, Taiwan's largest city, and at the same time, he was continuing to claim sovereignty over all of China and Greater Mongolia. On the mainland, the victorious Communists established the People's Republic of China, claiming to be the sold representative of China including Taiwan and portraying the ROC government on Taiwan as an illegitimate entity. This is the story of confrontation between Taiwan and the People's Republic of China over Taiwan's sovereignty.
Until this very modern time, the confrontation over sovereignty between the People's Republic of China and Taiwan is still one of the hottest in the international news. Shall Taiwan be sovereign? By siding with "economic" point of view, the author of this article does support Taiwan's sovereignty.
For the past 50 years, Taiwan has shockingly grown from a poor country in the region into one of the most prosperous societies in the world. In 1952, Taiwan's per capita GDP was a mere $1,096. In 2005, Taiwan was the world's 19th-largest economy and 16th-largest trading nation. As of July 2006 it had the fourth-largest foreign exchange reserves in the world. And by the year 2006, Taiwan's per capita GDP had swelled to $16,000 and all foreign trade topped $427 billion and all foreign reserve exchanges accumulated to be $266 billion.
Authoritative annual surveys of the world's economies-including those conducted by the World Economic Forum, Business Environment Risk Intelligence, International Institute for Management Development and Economist Intelligence Unit-have consistently ranked Taiwan among the world's top nations with respect to potential for long-term economic growth and technological development. As of the end of the second quarter of 2006, Taiwan led in production of large-sized LCD panels, with its global share of unit shipments exceeding 45 percent.
According to the World Economic Forum's Global Information Technology Report 2005 - 2006 :" With no significant natural resources, [Taiwan] has built its competitive advantage on its human capital, creating a model which other countries would do well to follow... ...Taiwan demonstrates the advantages that long-term strategic vision combined with adaptive management can confer."
According to the Index of Economic Freedom [2007 assessment]: "Taiwan's economy is 71.1 percent free, which makes it the world's 26th freest economy and it is ranked 6th out of 30 countries in the Asia-Pacific region, and its overall score is much higher than the regional average.
Taiwanhas high levels of investment freedom, trade freedom, property rights, fiscal freedom, freedom from corruption, and freedom from government. The average tariff rate, inflation rate, and level of corruption are all low. Although Taiwan's personal income tax is high, the corporate tax rate is moderate, and overall tax revenue is low as a percentage of GDP. Government spending is similarly low. Taiwan's investment climate is healthy, and 100 percent foreign ownership is permitted in most sectors. Property rights are protected by the judiciary, although there are minor problems with case delays and corruption associated with organized crime.
These are just some of the positive economic indications of Taiwan, in other areas; human and civil rights, legal and political system, and other political state of affairs; Taiwan is too good to be under the supervision of political and economic framework of mainland China, which is a Maoist-communist country, bearing a huge gap between the rich and the poor, high-profile corruption, and mammoth record of human rights abuses, a well as other highly negative international reputations.
To be short and precise, I do totally support Taiwan's sovereignty, so that this country can strive to the fullest as it deserves.
Vicheka Lay is the Assistant Managing Director of Cambodian War Amputees Rehabilitation Society [a Canadian NGO registered in the Province of Alberta, Canada], and a freelance translator for a company in Indonesia. Also, he is currently an LL.M candidate, with specialization in International Law. Vicheka Lay is also an "expert blogger" for the Center for International Governance Innovation, based in Ontario, Canada.
Questions on Cambodian laws, business, politics, and state of affairs? Email me: vichekalay@yahoo.com
Wednesday, July 20, 2011
Wednesday, July 13, 2011
Sunday, July 10, 2011
Friday, July 8, 2011
Thursday, July 7, 2011
Rice vermicelli米粉
Rice vermicelli are thin noodles made from rice, sometimes also known as rice noodles or rice sticks. They should not be confused with cellophane noodles, which is another type of vermicelli.
Etymology and preparation
Rice vermicelli are a part of several Asian cuisines, where they are often eaten as part of a soup dish, stir fry, or salad. One particularly well known, slightly thicker variety, is called Guilin mǐfěn (桂林米粉), comes from the southern Chinese city of Guilin, where it is a breakfast staple.
China
米粉，在中國南方地區，亦簡稱粉。是用稻米為主要材料製作的細長條狀食材，在中國南方、台灣、東南亞由於盛產稻米，比較流行。不同地區的米粉由於製法不同，會有不同的長短、粗細、質地和口味。
起源
據傳是古代中國五胡亂華時期民眾避居南方而產生的食品。一說是為了方便走難時攜帶和食用，因為米粉已預先煮熟，使烹煮容易，外出攜帶也方便。另一說法為當時漢人南遷華南地區，卻懷念北方的麵條，因此以稻米取代麥榨條而吃，根據《新竹市志》上的記載：「五胡亂華，華人南遷閩浙時，仍以稻米榨條而食，即當今之米粉也」、「米粉之製法由福建惠安傳入台灣」。
米粉在以前算得上是「高級食品」，只有喜慶宴客、特殊節日才會以「炒米粉」招待客人。
Barrel rice cake筒仔米糕
Saturday, July 2, 2011
Oyster vermicelli蚵仔麵線
蚵仔麵線的優劣決定於蚵的大小與新鮮度，拌太白粉時也必須注意蚵的完整。豬大腸滷製的過程，與整碗麵線中的比例都是決定好吃與否的關鍵。在顧客購買蚵仔麵線時，商家通常會問要不要加辣，有些商家是以辣椒醬聞名。此外也可多加烏醋、蒜末、香菜等調味。