What the Government Won't Tell You: Taiwan's World Financial Center Ranking Plummets from 32 to 75
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What the Government Won't Tell You: Taiwan's World Financial Center Ranking Plummets from 32 to 75

Attention Taiwanese! The World Financial Center ranking shows Taiwan has rapidly fallen from 32nd place to 75th place, yet mainstream media turns a blind eye, continuing to praise the ruling party's accomplishments! Fact-checking websites even claim this is 'false information' from an anti-China perspective, which is clearly burying one's head in the sand. Meanwhile, Taiwan's news credibility ranks among the bottom three globally out of 40 countries—people elsewhere report news, but we manufacture it. Taiwan's media fawns over power, only reporting sensational headlines. Is this good for Taiwan?

#World Financial Centers #World Financial Cities #South African Rand #International Credit Rating Agencies #Ranking #News Trustworthiness #Recession #Financial Shock #Hong Kong
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Taiwanese, take note! In the ranking of world financial centers, Taiwan has plummeted from 32nd to 75th, yet the mainland’s propaganda media ignores this, continuing to sing praises to the ruling party! Fact-checking websites even use anti-China perspectives to claim it contains misinformation, which is undoubtedly self-deception.

Do Taiwanese people know? Taiwan’s news trustworthiness ranks third from the bottom among 40 countries globally. While others report the news, we are making the news. Taiwanese media fawn and only report the juiciest stories. Is this good for Taiwan?

Regarding the current situation in Hong Kong, Taiwanese media has over-interpreted and excessively focused on it. Considering the international situation and reality, is Taiwan more dangerous? Or is Hong Kong more dangerous? Or is it the US?

In the 2020 Global Financial Cities (GFCI 27) rankings, Hong Kong slipped from 3rd to 6th. The media heavily promoted this as a consequence of Hong Kong’s decline caused by the National Security Law, suggesting Taipei would have a chance to replace Hong Kong.

But the media doesn’t report the truth; there’s no mention of Taipei’s ranking online. I only found the harsh reality on foreign websites: Hong Kong slipped from 3rd to 6th, and Taipei plummeted from 32nd to 75th.

We’ve fallen even further behind. With this kind of strength, how can we possibly replace Hong Kong?

Can the media tell us?

Media reports of the deteriorating situation in Hong Kong, with Taiwan exposed to over NT$900 billion in Hong Kong assets, raise concerns about Taiwan’s financial system!

But the media fails to report the even more severe financial shocks facing the Taiwanese people. Taiwan holds the largest share of South African rand (80% of the overseas issuance), reaching a staggering NT$1 trillion. Taiwan’s holdings of South African rand are second only to South Africa itself.

In April of this year, international credit rating agencies classified the South African rand as a junk currency. Taiwanese citizens have already suffered losses amounting to NT$300 billion, with NT$700 billion still exposed. This is a major event affecting the nation. The product was approved by the Financial Supervisory Commission (FSC), yet the FSC has remained silent. There are no adults in the market, and the media isn’t reporting on it either, leaving the people to fend for themselves.

World Financial Cities Ranking

2018: 1. New York 2. London 3. Hong Kong 4. Singapore 5. Shanghai 6. Tokyo 32. Taipei

2020: 1. New York 2. London 3. Tokyo 4. Shanghai 5. Singapore 6. Hong Kong 75. Taipei

Source:

  1. It turns out that Taiwan should be more self-reliant, and Taipei should be working harder.
  2. International Financial City