2001 Business After the Dot-Com Bubble

As the IT industry began the next stage of its evolution, the “knowledge economy” also became a familiar catchcry. In the January 2001 cover story “It’s the ‘Knowledge-Based’ Economy, Stupid!” Sinorama interviewed Simon ­Chang, now ROC vice premier, but then general manager of Acer Cyber­Center Services. ­Chang expressed his belief that Taiwan’s strong foundation in manufacturing and its wealth of talent would be the basis of the island’s development of a strong IT industry and knowledge economy.

Sinorama looked not only at that time’s bigger picture, but also at changes at the fundamental level. Demand for high-speed Internet was growing in 2001, and Internet cafes were springing up islandwide: their number surged from 700 in 1999 to nearly 4000 in 2001. Today Internet cafes’ best days are behind them, but the Internet is now an inextricable part of daily life, in the very blood of a new generation of Taiwanese.

While the bursting of the dotcom bubble inflicted serious harm on the global economy, it also brought new opportunities. Large companies began changing their focus and Internet entrepreneurs seized their chances, writing the first chapter of the history of the 21st century.

While the bursting of the dotcom bubble inflicted serious harm on the global economy, it also brought new opportunities. Large companies began changing their focus and Internet entrepreneurs seized their chances, writing the first chapter of the history of the 21st century.