Currency plays an important role in business. The first step is to know the currency of a foreign country if a person wishes to trade with that country. The Taiwan dollar (TWD) is the official currency of Taiwan. The value in the relationship between Canada and Taiwan is that 1 Canadian dollar is equal to 23.75 New Taiwan dollars. It's soft money. Additionally, due to the special relationship between Taiwan and China, the Canadian government has chosen to support the One-China policy, meaning that Canada treats Taiwan as a province of China rather than as an individual country. There is therefore no official government relationship between Taiwan and Canada. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get Original Essay Although there are hidden costs in Taiwan or other developing countries or even developed countries. For example, because they are not included in the base price of something. These unpredictable hidden costs are due to several reasons. Cultural, customs and language differences, currency fluctuation, resistance to change, longer delivery times, increased sourcing risks, lack of knowledge, skills and necessary technology. Since Taiwan became an independent nation, many consumers or consumer businesses and even students are expected to face the problem of hidden costs. Taiwan has a compulsory free education policy whereby students only have to pay a small tuition fee each semester. For example, for primary school, only 50 USD is required. Compared to Chinese parents, they actually pay much more than Taiwan, because tuition fees in China are also expected to include additional extracurricular classes. Additionally, some schools make money through services, such as water consumption. There are many different standards depending on the country. Comparing Taiwan and Canada, there are different standards and regulations, such as market management standards and recycling standards. The difference in market management standards between Taiwan and Canada is obvious. The difference is reflected in who is in charge of the market. For example, people can manage the market in Canada themselves. Most decisions are made by the people rather than the government in Canada. They have more rights than Taiwan because the Taiwanese government has all the right to manage the market, but people have less right to make a decision. Additionally, recycling standards are also different. In Canada, the government wants to ensure that domestic e-waste is recycled in an environmentally friendly manner, in accordance with policies, regulations and international agreements. On the other hand, in Taiwan, e-waste recycling is still a serious problem and the government has not had a good idea to solve this problem. Keep in mind: this is just a sample. Get a custom paper now from our expert writers.Get a Custom EssayThere are three important marketing guidelines that foreign companies should follow when doing business with Taiwanese in order to attract new customers. The three guidelines relate to advertising and promotion, printing and labeling. First, when a company advertises the benefits of its products, it must be honest. Businesses are not allowed to make claims or use promotional techniques to mislead consumers. In addition, for printing,..