Re:Chip shortage: Toyota to cut global production by 40%
by nostrademons on Thursday August 19, 2021 @04:18PM
(#28238831)
Even adjusting for PPP is complex though, because different goods have different cost adjustments. Actually buying a condo in Taiwan isn't cheap - I think my in-laws said it was around USD$500K for a 3BR/2BA in one of the Taipei exurbs, and can go up past $1M for luxury condos near a city center. That's close to Bay Area prices on McDonalds wages. A lot of Taiwanese youth are pretty much priced out of many markers of adulthood (not unlike many American Millennials), and can't do much other than eat, work, and play videogames. To have a house of their own and a job with the potential for career advancement, they basically need to wait for their parents to die. That's not really captured in PPP numbers, the same way that rampant asset inflation hasn't been captured in the American CPI.
Re:Chip shortage: Toyota to cut global production by 40%
by ericjang on Thursday August 19, 2021 @04:37PM
(#28239057)
+1 to these Taipei real estate price estimates. Note that TSMC is headquartered in Hsinchu County, and I think real estate is much cheaper there (please fact check me on this though).
source: Parents are from Taiwan, and I have relatives in Taiwan who tell me similar price estimates.
You should just adjust for PPP. The world bank estimates taiwan's GDP (nominal) to be 759M, but adjusted for PPP it's 1,403B. If we do the same adjustment for wages, we get $3165 per month, or $18.19/hr.