Taiwan IT Industry Expands
In Taiwan there is a tradition for companies to hold year-end banquets, or weiya, to reward their employees before the Lunar New Year. It is possible to tell how well a company has done for the year based on the extravagance of the feast, and using this metric it would seem that Taiwanese IT companies have had a very good year.
Technology makes up the core of Taiwan's exports, and many IT companies have reported record sales thanks to strong global demand by consumers for electronic gadgets. One smartphone maker was particularly generous by giving out bonuses to some employees worth up to 20 months of salary. With the Economic Cooperation Framework Agreement (EFCA) now in place, the Taiwan IT industry is poised for even greater growth as the EFCA allows for more flexibility in trade between Taiwan and China.