Dr. Yea-Mow Chen's Lecture

Dr. Yea-Mow Chen's lecture was extremely interesting. I have never learned so much about economics in one lecture. He basically summed up the world's current economic status in a three hour lecture.

In his lecture he answered six looming questions. The first was "As developed economies tighten their monetary policies will they be able to utilizes their monetary polices to stimulate the economies when another recession hits?" Basically he stated that since the recent world recession economies are cutting back on their foreign debt by cutting government spending. Also the central banks are lowering interest rates so low that the real rate (interest rate - inflation) is negative. Dr. Yea-Mow Chen stated that these two actions offset each other because the low interest rates enhance economic growth because people can borrow for less but the the government cutting back spending stifles the economy because there is less government money in the economy. So basically he said the only way to save the economy from another recession is for the consumer demand to increase but that doesn't seem to be likely with the recent consumer confidence index reports.

His second question was "How big is the European debt crisis?" To answer this he focused in on Greece's situation. He talked about how Greece could likely default if there is no bailout for them and that this would hurt many banks in the EU and could cause a domino effect.

The next question was "What is the European debt crisis's impact on the US economy?" The answer for this question revolved around the tightening of financial conditions. If the european countries do not spend as much then our exports will lower. This will slow down are goal of reducing our foreign debt and also hurt our domestic producers.

He also answered some questions like "Will there be a great depression or double dip?" "How to avoid a double dip?" and "Can China save the World?"

Third Trip to Taipei with Stanley and Abby

Today we had the whole day off and really had no plans. So we met with Stanley and Abby and they took us to eat some dumplings. I ate fried dumplings and really liked them. I'm glad I learned how to make them at Dr. Chin's place. After eating Ari, Ivan, Ankit, Abby, Stanley and I all decided to take another trip to Taipei.

When we got there we went to a temple because the others didn't get the same experience I had earlier. I actually enjoyed this one more because it was bigger and we did more. We first just walked around and then we asked the gods some questions. The way you get their response is by dropping these wooden horns that are cut in half. If the land on opposite sides the god agrees with your question. If they are both on the round end the god is laughing at your question and if they are both on the flat end then the god is mad at your question. Also if the god agrees with your question then you must ask three more times in order for the question to likely come true. I asked if I was going to be successful. I know that is very broad but I was just feeling it out. The god agreed three times in a row. That made my day. After the questions Ari and I bought Buddha beads and Abby showed us how to bless them. That was a really cool experience.

After the temple we walked around and saw a really cool fountain, a historical place and also some shopping centers. Then we went to the Taipei night market. It was very busy and crowded. The vendors are not supposed to sell in the middle of the walkway but they do anyway. This makes it really congested and funny when the cops come. All the vendors pack up what they had in the middle and hide out of sight.

On the return trip we took the bullet train back. This is an extremely fast train that can go 186 miles per hour. That definitely made the trip home a lot faster. I really enjoyed my time today.

Second Trip to Taipei/Getting Sick

Our second trip to Taipei was not my favorite only because I got really sick. Our first stop was a National Palace Museum. It was really nice and there was a lot of cool stuff in there. The most famous piece is call the "Jade Cabbage" and it is exactly what it is named. It is famous for the detail that was put into it. There is even a little bug on it. I bought a piece of artwork and right when we were about to leave my stomach started cramping really bad.

On the way to Taipei 101 i thought my stomach was going to split in two. It this point I had no urge to release anything but I was in sever pain. As soon as we got to the building I ran right to the bathroom and threw up. I felt that it was the best way to introduce myself to the second tallest building in the world. Our first objective was for everyone to get something to eat but the thought of food, especially foreign food sounded terrible so I stuck with ice cream. That turned out to be a bad idea too because after that I couldn't stop shivering.

When everyone was done eating we decided to go to the top of the building. I had taken some medicine and was feeling a little better. The elevator to the top is the second fastest in the world and it took us to the 89th floor in around 36 seconds. The top was great. We were surrounded by windows and you could see for miles in any direction. We also decided to walk up two more flights of stairs and go outside. I just want to say that I have no fear of heights and I actually was enjoying the experience but as soon as I got outside I ran right to the bathroom and vomited again. I actually am proud because I'm sure I'm only one in a few that has done that about a quarter of a mile high in a building. After we went to the top we walked through some exhibits and then reentered the elevator. After we were back down we met up and went off to Freedom Square.

Freedom Square was beautiful. It is used as a concert hall and has three amazing buildings surrounding it. We saw it at the end of the day so we got the view from day and night. The whole day was great. I just wish I didn't feel so bad. I have no clue what it was from but I'm just guessing it was food poison.

Karaoke

Tonight we went to karaoke with some of the CYCU students. Here karaoke is a little different than in the states. We had our own room for our party instead of going up infront of an entire bar. I liked this better because we could just have a good time with our friends. There was also a buffet that we could eat at. We had a great time singing and dancing. When I look back on this time here I will definitely remember karaoke.

Hsinchu Science Park

Today we had a class with Dr. Jih and we discussed what impressed us the day before. Our grouped talked about the Rapid Transit System and the Traffic Control Center and how advanced they are.

After Class we went to Hsinchu Science Park. This is a corporate park very similar to Silicon Valley and it is one of many here on this island. There are over four hundred high tech companies that reside in the park and this specific park is known as to most significant areas for semiconductor manufacturing. The worlds two largest semiconductor companies reside in this park. They are Taiwan Semiconductor Manufacturing Company (TSMC) and United Microelectronics Corporation (UMC). These building were gigantic and we all didn't know when they would stop. This park is so large that it accounts for about ten percent of Taiwan's GDP. At Hsinchu we had a presentation and then a tour of the park. After the tour we went to a little history museum in the park. There we saw a time line of Taiwan's economic development and got to play with some new and old gadgets that were developed in Taiwan. I wish we would have gotten to go inside some of the companies but it was still a great trip.

First Trip to Taipei

Our first trip to the capital city Taipei was a great one. Our first stop was Taipei Rapid Transit Company. They have a state of the art and pioneering mass transportation system. With over a million motorbikes and seven hundred thousand cars, a need for a great public transportation system was necessary. They have eight lines that stretch 90.5 km and also have eighty two stations. The most amazing part to me was the cleanliness of the station and trains . You are not allowed to eat or drink on the cars. This has kept the trains extremely clean. We also visited the hub of the whole system. This was interesting as well. It looked very futuristic and cutting edge.

Right next door to the Taipei Rapid Transit was the Taipei Traffic Control Center. Here we learned some proactive things that Taipei is doing to reduce traffic and increase efficiency. They have hundreds of cameras posted all over the city to monitor heavy traffic and a quick system of reporting this news to radio and TV stations. There is also this thing called an easy card. The same card can be swiped for the trains, buses, bike rental and also can but used to buy things at 7-elevens and pay fines. The bike rentals are an interesting development as well. You can rent a bike using your easy card at one station in Taipei and can return it at another station and these stations are completely automated. The buses are advanced too. All the buses have GPS so all the stops can show in real time when the bus will arrive. There is also an app for phones that can track the buses and let you know an up to date bus schedule.

After the visit to Taipei we went to the Tamshui and Old Street. Old Street was a night market that had shops and food venders lining the street. You can see a night market in any town on any night here. This one was a little different because it was older (as the name suggest) and offered a different variety of things. I needed to exchange money so Stanley and I went on our own which basically separated us from the group. I liked this because he was able to explain things to me a little more and we got to go to a Taoist temple and pray to the god of study. The temple was very interesting. There were three doors. The right is the entrance the left is the exit and the middle door was for the gods to come and go from. When we entered we grabbed some inscents and lit them in a fire in the middle of the temple. The we walked around and paid our respects to the others gods and placed inscents in front of their displays. Finally we went to the god of study and prayed to him. It was a very interesting experience.

When we were done with Old Street we got a bus to Tamshui. This is a wharf and there is also a bridge called Valentines Bridge or Lovers Bridge. It was fun but I wish I had my valentine there with me. Lovers Bridge is a place where a lot of couples go to get their engagement photos done because the sunsets there are amazing. In fact we saw a couple getting their photos taken there.

After Tamshui we took a ferry back to Old Street where we grabbed some food. I had tuna sausage on a stick and some stinky tofu. The stinky tofu was terrible and it really did stink but I had to try it. I also had a black egg that was one of the worst things I have ever eaten in my life. When we were done eating we all met back up and took the train back to Zhongli.

Opening Ceremonies and the First Class

This morning I slept in until the opening ceremonies for this business camp. There we had a little presentation and the important figures of the camp all spoke. We also got to meet the rest of the CYCU students that will be attending the class. After the ceremony we got to enjoy a buffet of traditional foods. It was really good and I especially liked the buffet part.

After the opening festivities we went and got ready for the first class of this camp. The first lecture was taught by Dr. Kenny Jih from MTSU. He talked about the knowledge economy and knowledge management. I was very interesting and I learned a lot. Here is a link to his wiki of the class studyabroadintaiwan2010. Here you can see his agenda for each class to get more detail on what we are learning. We also split into groups and discussed the assignments for this class. We all have to do a individual blog and we also have to post on a group wiki page. As you can see this is my blog and here is a link to our wiki konichiwataiwan. My teammates are Jeremy,
Vicky and Stanley. I think we make a great team.