CENS Publications | Taiwan Industry Updates | My CENS | Inquiry Cart

The Economic Roundup is an excerpted translation of the Chinese-language ROC Economic Yearbook published by the Economic Daily News, a sister publication of the Taiwan Economic News. The yearbook is the most comprehensive and authoritative source for understanding the fundamentals of Taiwan's economy, both in the macro and micro aspects. The excerpted translation gives foreign readers a concise view of the island's overall economic picture. It is divided into four parts: general economy, primary industries, secondary industries, and tertiary industries.
 
 General Economy > Quality Of Life
In the first half of 2005, affected by soaring international oil prices and slowdown in the expansion of the global economy, growth momentum of Taiwan's economy slackened. Fortunately, with the upturn in manufacturing output and exports, plus accelerated execution of public investment projects, the economy picked up in the second half. Overall, the economy staged a lackluster performance in 2005, with the economic growth reaching 4.09%, achieving the government's target of keeping the growth rate above the 4% level. Due to the effect of soaring international oil prices and natural calamities, consumer price index (CPI) rose 2.3%, the highest since 1996, while unemployment rate dropped to 4.13%, the lowest in the recent five years.

Despite adequate performance in general economic indicators, such as economic growth and unemployment, many problems remained in the aspects of social justice and environmental protection. For instance, "card slaves" (insolvent card debtors) became focus of attention of the society and public opinions, as card-debt problem resulted in serious social problems, including suicide, family disputes, and crimes. Structural unemployment problem remained serious and life and spiritual pressure on people persisted, which, plus the exaggerated coverage of the suicide of performing artist Ni Min-ran, inflicted various ailments, such as depression, on some local people. The incident of Dioxin-contaminated duck eggs in Shengkang village of Changhua county and the looming threat of bird's flue also overshadowed the health of local citizens and affected their life quality.

In the following, we offer observations of changes in local people's life quality, via quantitative evaluations according to the "indices for civic life" promulgated by the Directorate General of Budget, Accounting, and Statistics, under the Executive Yuan, in addition to some latest related indices:

1. The aspect of health is measured by the indices of health condition and foodstuff hygiene. In 2004, the overall health index deteriorated than the previous year, which is unlikely to be improved in 2005, due to the continuing aging of the local population structure.

2. The aspect of environment is measured by the indices of environmental pollution, quality of drinking water, and garbage disposal. The index increased slightly in 2004 from 2003 and should climb further in 2005, thanks to waste reduction and continuing construction of sewerage systems.

3. The aspect of safety is measured by social security and public safety. The index increased slightly in 2004 over 2003 but might remain flat in 2005, despite the creation of many social problems by the serious card-debt problem, which were offset by continuing improvement in other aspects of public safety.

4. The aspect of economic security is measured by the indices of gross national product, consumer price index, income distribution, and unemployment rate. The composite index improved in 2004 over 2003, thanks to steady economic growth and declining unemployment rate. In 2005, The steady decline in unemployment rate should contribute to the improvement in economic security.

5. The aspect of family life is measured by the indices of care of senior citizens and children, marriage status, and quality of residences. In 2004, the composite index improved over 2003 but might not be able to improve further in 2005, due to continuing change in the social structure, increase in small families, and growth of divorce rate.

6. The aspect of working life is measured by average salaries, the rate of vocational disasters, and labor disputes. The composite index dropped in 2004 from 2003 and might not be able to improve in 2005, due to decline in real pays.

7. The aspect of learning life is measured by education-related indices. The composite index improved slightly in 2004 over 2003 and is expected to rise further in 2005, due to continuing improvement in various indices.

8. The aspect of social participation is measured by participation rate for professional and social groups, community participation, and rate of voluntary social services. Following the enactment of the "Law of Volunteer Services," voluntary services have become increasingly popular, which further boost the composite index of social participation.

9. The aspect of culture and recreation covers the indices of space for recreation, travel, and reading/listening. Thanks to economic upturn and removal of the SARS epidemic, the composite index improved in 2004 and is expected to rise further in 2005, due to steady economic development and the booming development of tourist and recreational industry.

In sum, in 2004 seven indices improved over 2003, including environment, public safety, economic security, family life, learning life, social participation, and culture/recreation, but the two indices of health and working life deteriorated. Overall, life quality of local citizens continued to improve. In 2005, despite the slackening of economic growth, overall life quality is expected to remain flat, due to improvement of the unemployment problem. Looking ahead, in order to enhance life quality, local people should endeavor to expand the "winner circle" by narrowing the gap between the rich and the poor, protect the safety of people's life and properties by improving social security, maintain social stability by strengthening the basis of mutual trust, and establish complete caring system to cope with problem of aged population.

   
FAQ | Biz Partners | Site Map | Contact Us | Copyright
 ©1995-2006 Copyright China Economic News Service All Rights Reserved.