News and Events

Talking about Taiwan’s Future with Academician Cyrus Chu

Date 2012-01-06 6290 Clicks

LIANG TSUNG-MIN

On the afternoon of Jan 6, TKU hosted a lecture by renowned economist and Academia Sinica academician, Dr. C.Y. Cyrus Chu. The talk was held at the Carrie Chang Concert Hall at 2:30 pm, and was attended by TKU students, faculty, and staff who crowded into the hall to make the most of the rare opportunity.

Dr. Chu talked about opportunities for Taiwanese economic development in the context of the current global economy. He began by explaining the significance of an innovation-based economy, described how globalization has affected Taiwan’s national economy, analyzed new modes of industry given trends in the current era of globalization, and gave three examples highlighting the key to seizing opportunities associated with globalization.

According to Dr. Chu, findings from last year’s Technology Consultation Conference suggest that Taiwan’s economic direction should move from efficiency-based operation to innovation-based operation. In terms of industry development, Dr. Chu noted that the key is not specialization of expertise, but instead insight (being able to view outcomes without the need for calculation). He asserted that, given the difference between an innovation-based economy and the traditional economy, several economic theories, such as the Chicago School of Economics, should be amended. The main characteristic of an innovation-based economy is the need to constantly innovate in order to retain a relative advantage. Doing so would spur increased returns as opposed to diminished returns, the latter of which is inherent with economic models based on specialization, argues Chu.

SDGs

Talking about Taiwan’s Future with Academician Cyrus Chu
LIANG TSUNG-MIN
Talking about Taiwan’s Future with Academician Cyrus Chu
LIANG TSUNG-MIN
Talking about Taiwan’s Future with Academician Cyrus Chu
LIANG TSUNG-MIN
Talking about Taiwan’s Future with Academician Cyrus Chu
LIANG TSUNG-MIN