August 2019 | Vol. 49 | Issue 8 THE AMERICAN CHAMBER OF COMMERCE IN TAIPEI IN OF COMMERCE THE AMERICAN CHAMBER Reverse Investment Flows 向 TAIWAN BUSINESS TOPICS TAIWAN August 2019 | Vol. 49 | Issue 8 Vol. 2019 | August 中 華 郵 政 北 台 字 第 ANALYSIS AMCHAM MISSION TO WASHINGTON BACKGROUNDER 號 執 照 登 記 為 雜 誌 交 寄 DISINFORMATION Published by the American Chamber Of NT$150 Commerce In Taipei Read TOPICS Online at topics.amcham.com.tw 82019or4.indd 1 2019/8/10 上午11:26 ADVERTORIAL Steak from the Range – at The Sherwood’s TOSCANA high plains of Wyoming are perfect for of TOSCANA diners choose steak for raising cattle, and the state has been their meal. at the center of the U.S. beef indus- Steak is far from the only reason to try since the 19th century. Located in visit TOSCANA, however. The exem- beautiful Powell, Wyoming, only two plary Tuscan décor with its lovely views hours from world-famous Yellowstone of a lush garden offer a classic and National Park, Murraymere Farms was inviting atmosphere for celebrations, established in 1914 on a small land- special occasions, or impressing a client. holding with just a handful of cattle. TOSCANA Executive Chef has crafted Now, the fourth generation of Murrays, a menu that goes well beyond steaks, under the guidance of family scion including classic starters such as Seat- Valerie Murray, continues to farm the tle Chieftain Oysters and French Onion ranch, which has grown to over 2,000 Soup. The Green Salad offers a creative acres with over 900 cattle. The family mix of locally grown greens in a sweet is committed to ethical and sustain- and tangy vinaigrette with a sprin- able cattle husbandry, and the thick kling of corn flakes to give it crunch marbling of fat along with the rich and pizazz. Top off your meal with flavor and texture testify to the care TOSCANA’s signature Black Truffle Ice provided to these Black Angus cattle. Cream dessert, a creamy delight of the he bone-in Murraymere U.S. The farm is so committed to assur- sweet and savory that will leave you Prime steak at The Sherwood ing trust and quality of its 100% Prime well satisfied. T Taipei’s TOSCANA Italian and Choice beef throughout its lifecycle Every weekend TOSCANA puts on Restaurant is served sizzling on a plat- – from “conception to consumption” – a sumptuous Italian-style semi-buffet ter big enough to hold all 24 ounces that it has joined the Wyoming Certified that features a broad selection of Italian plus a rich soup of drippings and melted Beef assurance program based on block- cold cuts, sausages, and other meats, butter. The steak, basted in butter, is chain technology and dubbed “Beef along with fresh seafood and the well- baked twice to lock in the juices, and Chain.” This cutting-edge technology stocked dessert bar, starting from only the sight of the steak and the sound provides buyers and sellers with the NT$3,480 (plus 10% service charge). of its sizzle are enough to get the taste most transparent and up-to-date infor- The 24-ounce bone-in Murray- buds working overtime while the rich mation regarding Murraymere’s beef. mere U.S. Prime steak meal, with its aroma wafts through your senses. The complement of sides and dessert, as first bite fills your mouth with luscious well as TOSCANA’S other fine qual- flavor – juicy, with just a hint of sea ity steak meals, goes from a reasonable salt and black pepper. Less than 3% of NT$3,480. Come on down to The Sher- steaks produced in the U.S. earn the top wood Taipei’s acclaimed TOSCANA “Prime” grade, and upon tucking into a Italian Restaurant to enjoy a truly Murraymere bone-in U.S. Prime steak, memorable meal with special friends in you might question whether you’ve ever your life. To make reservations, please really tasted steak before. call (02) 2718-1188 or visit The Sher- The Sherwood Taipei’s TOSCANA wood Taipei: No. 111, Minsheng East is known primarily for its authentic Road, Section 3, Taipei. Italian cuisine, but in recent years has also become acclaimed for offering the finest in steak options to meet Taiwan’s growing appetite for fine quality beef. Murraymere bone-in and bone- TOSCANA pioneered the dry-aging less steaks are the stars of TOSCANA’s process for steaks in Taiwan, taking the steak menu, where they join such other lead of the culinary arts of steak back options as the classic TOSCANA dry- in 2006 aged steak, which is seared and then Once again TOSCANA is taking roasted on high heat to seal in the juices the lead by offering Wyoming Prime and lock in the flavor, as well as New steak from the independent Murray- York ribeye and several more. The steak mere Farms. The windswept, wide open menu has proven so popular that 60% 2 TAIWAN BUSINESS TOPICSS • AUGUST 2019 8 ood adrtorial.indd 2 2019/8/10 午12:18 CONTENTS NEWS AND VIEWS 6 Editorial Moving Toward an FTA AUGUST 2019 VOLUME 49, NUMBER 8 邁向自由貿易協定 一○八年八月號 7 President’s View Making the most of a geopolitical Publisher shift William Foreman By William Foreman Editor-in-Chief Don Shapiro 8 Taiwan Briefs Art Director/ / By Ellie Koepplinger Production Coordinator 12 Issues Katia Chen Backsliding on Chiropractic; An Manager, Publications Sales & Marketing Caroline Lee Unintended Consequence; Is Translation a Dietary Supplement a Food? Kevin Chen, Yichun Chen, Charlize Hung 整脊專業合法地位的倒退；意想不到 的結果；營養補充品是食品嗎？ By Don Shapiro and Anna Yang American Chamber of Commerce in Taipei 129 MinSheng East Road, Section 3, 7F, Suite 706, Taipei 10596, Taiwan COVER SECTION P.O. Box 17-277, Taipei, 10419 Taiwan Tel: 2718-8226 Fax: 2718-8182 INVESTMENT e-mail: [email protected] website: http://www.amcham.com.tw 台 16 Is Taiwan Winning the 台 U.S.-China Trade War? 2718-8226 2718-8182 美中貿易戰局 台灣是否受惠？ Taiwan Business Topics is a publication of the American Chamber of Commerce in Taipei, ROC. Contents are Tech firms are repatriating independent of and do not necessarily reflect the views of the Officers, Board of Governors, Supervisors or members. from tariff-hit China, boosting © Copyright 2019 by the American Chamber of Commerce in Taipei, ROC. All rights reserved. Permission to reprint original the local economy. But can material must be requested in writing from AmCham. Production done in-house, Printing by Farn Mei Printing Co., Ltd. Taiwan secure a long-term 台 position in global supply 台 台108台66 chains? 台5000 長 By Matthew Fulco ISSN 1818-1961 21 Uber on the Brink Again business has grown steadily Chairman: Leo Seewald in Taiwan while it has largely dodged Vice Chairmen: C.W. Chin, Petra Jumpers penalties for hosting Secretary: Fupei Wang Amended transportation Treasurer: Al Chang regulations could cripple the unlicensed properties on its 2018-2019 Governors: Anita Chen, C.W. Chin, Petra ride-hailing giant’s Taiwan platform. Jumpers, Leo Seewald, Daniel Tseng, Fupei Wang. business, sending a By Matthew Fulco 2019-2020 Governors: worrying message about the Al Chang, Albert Chang, Seraphim Ma, Jan-Hendrik 26 The Dutch Connection Meidinger, Paulus Mok. investment climate. Remains Firm 2019 Supervisors: Vincent Shih, Terry Tsao, Dylan By Matthew Fulco Tyson. There’s more to buoyant two- way FDI flows than generous COMMITTEES: 24 Airbnb Resilient in Agro-Chemical/ Melody Wang; Asset Management/ Taiwan taxation policies. Christine Jih, Derek Yung; Banking/ Paulus Mok; Capital Markets/ Nadia Chen, Mandy Huang, C.P. The home-sharing company’s By Jens Kastner Liu; Chemical Manufacturers/ Charles Liang, Michael Wong; Cosmetics/ Shirley Chen, Abigail Lin; CSR/ Lume Liao, Fupei Wang; Energy/ Randy Tsai; Human Resources/ Vickie Chen, Monica Han, Carmen Law, Seraphim Ma; Infrastructure/ Wayne Chin, Paul ANALYSIS Lee; Insurance/ KT Lim, Linda Tsou, Dylan Tyson; Intellectual Property & Licensing/ Jason Chen, Peter 28 Positive Signals for CEO Dernbach, Vincent Shih; Marketing & Distribution/ Wei Hsiang; Medical Devices/ Jeffrey Wang, Joanne Yao; Mission to D.C. Pharmaceutical/ Petra Jumpers, Rie Nakajima; Public Health/ Joyce Lee, Tim Shields; Real Estate/ Tony The annual delegation found Chao; Retail/ Ceasar Chen, Mark Chen, Peggy Liao; Sustainable Development/ Kenny Jeng, Cosmas Lu, an encouraging atmosphere Kernel Wang; Tax/ Stella Lai, Cheli Liaw; Technology/ for U.S.-Taiwan economic Cynthia Chyn, Hans Huang; Telecommunications & Media/ Thomas Ee, Joanne Tsai; Transportation & relations. Logistics/ (tba); Travel & Tourism/ Gina Tsai. By Don Shapiro 4 TAIWAN BUSINESS TOPICS • AUGUST 2019 8 ontnt.indd 4 2019/8/10 午12:48 AUGUST 2019 • VOLUME 49 NUMBER 8 BACKGROUNDER 33 The Battle Against Disinformation Taiwan is seeking to fight back against fake news with stricter new legislation, media-literacy education, and fact- checking mechanisms. By Jane Rickards INDUSTRY EXECUTIVE SUITE 37 Meet Joanna Yao of F CUS Baxter A Report on the Retail Sector By Anna Yang By Jules Quartly 40 Outlets Going for Gold in Expanding Retail Environment TAIWAN BUSINESS As retail sales spike upward, new-style 46 The Changing Nature of outlets and malls cater to millennial Coworking in Taiwan shoppers who want entertainment and By Jeremy Olivier Instagram-friendly backdrops more than bargain-basement prices. SPONSORED CONTENT 43 A Country of Convenience 2 Sherwood Taipei Increases to the minimum wage, lower 49 Seeing Taiwan birth rates, and an aging population Yilan Offers a Slower, Gentler are leading to higher costs and labor Taiwan shortages for retailers. Will automation 51 Ministry of Economic save the day? Affairs TAIWAN BUSINESS TOPICS • AUGUST 2019 5 8 ontnt.indd 2019/8/10 午12:48 E D I T O R I A L Moving Toward an FTA he AmCham Taipei CEO Mission that visited Washington, that Taiwan would be an ideal partner for a trade agreement.