GDP per capita equals GDP divides by the number of population. The reasons that make GDP per capita is so important are because this is the best single indicator for welfare measure and the people in the country with a high GDP per capita usually enjoy a better life. Differs to the US, Taiwan relies more on foreign demand as trade is very important to small open economy. Taiwan exports are higher than imports because they sell more to the foreigners than they buy from them. They have a high trade surplus and their trade partners include USA, China, Europe, Japan and others. The strategy for economic growth is import substituting where industrialization was a trade policy adopted by many low and middle income countries before the 1980s. The policy aimed to encourage domestic industries by limiting imports. Therefore, this will raises tariff or impose quota on imported goods. Normally their prices can be double the original ones after tax.
Moreover, I know that a lot of goods are made in Taiwan such as dry food, candies, clothes, electronics …Some of the highly recognized global brands have their products manufacturing in Asia, Africa or South America. They need to minimize manufacturing cost for raw materials and labors. This is why nowadays, we have a lot of multi-national companies, they try to globalize. By investing oversea in developing countries, they have the benefit of lowering material and labor cost and also spread out their names on the globe.
We received our certificates from National Taipei University:
After having lunch at McDonald’s, we visited the American Chamber of Commerce in Taipei. This is a non-profit and non-partisan business organization in order to promote the interests of international business in the Republic of China.
Over 50 years, AmCham has become the largest and the most effective business organization in Taiwan. Their mission is that the cooperation itself “fosters the development of investment and trade between the United States and Taiwan, and it seeks to enhance Taiwan's economic environment by promoting the adoption of international business standards in the areas of legislation, regulations, and enforcement." Some of the core values including Private Enterprise, Rule of Law, Free Trade, Ethical & Responsible Business Practices, Transparency and the Free Flow of Information. In addition, their objectives are “to represent AmCham's diverse membership on issues of common interest, to provide a forum for networking and access to information, to serve as a trusted and influential advocate with government, to encourage civic-minded participation in the greater Taiwan community and to promote the Chamber's core values.”
In the afternoon, we visited Tamsui Campus of Tamkang University where many of my old Taiwanese friends attend college. This is a very nice university with a numerous of students including locals and international. All of us attended a lecture on “management” instructed by professor Jeng-yan Tsai with the students from Tamkang University. We were divided to 8 different groups and together, we discussed and answered the questions. My group has 5 Taiwanese students and 1 Brazilian one.
It was very tough while communicating with them in English and they didn’t want to work on the questions so the Brazilian boy and I worked on the assignment. We wrote out all the answers but my group didn’t have to present. I think teamwork at that time wasn’t successful because some people didn’t want to contribute and interact with others. After class, I went on a campus tour with Monzer and Ellina guided by some Tamkang University’s students.
There were 5 of them and they were all very nice and enthusiastic. They showed us around the campus, the gym area, the garden and also the circle’s spot where you can hear the echo of your voice. Later in the evening, we went to Tamsui River Area to try some Taiwanese snacks.
They are all so yummy such as the fried chicken, brown sugar cake, fried mushroom, plum juice, brown chewy egg…! I ate every single thing they showed as I always love food and trying new things. I enjoyed today a lot because I have a chance to blend myself deeper in Taiwanese culture and make good new friends. 
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