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Taiwan

(Republic of China)

A highly modern and affluent economy, Taiwan is one of the “Four Asian Tigers” alongside Hong Kong, South Korea and Singapore.

Officially known as the Republic of China, it is an island territory in east Asia, that is not recognised as an independent state by most members of the international community.

Government & Politics

Created by the defeated Kuomintang nationalist forces fleeing China after the victory of the Communist party in 1949, the Government on Taiwan was recognised as the official government of China until it finally lost its UN seat to the PRC in 1971.

It remained a military dictatorship until it became a genuine multi-party democracy in the early 1990s. While its internal politics can appear turbulent at times, Taiwan is generally considered stable with a low level of political risk.

Relations with the PRC have fluctuated between different Taiwanese governments, often resulting in threats of war, but a recent warming of relations has cemented ties between the two sides and reduced the likelihood of conflict.

Geography

The island of Taiwan (formerly known as Formosa), makes up over 99% of Taiwan’s territory, and it’s geography ranges from sub-tropical rainforest to alpine mountains over 4000 meters high. Neighbouring states include the People’s Republic of China to the West and North, Japan to the East, and the Philippines to the South.

Taipei is the capital city and economic and cultural center of the territory, and the surrounding district of New Taipei is the most populous urban area. The second largest city is Kaohsiung, an important port located on the west coast in southern Taiwan.

Economy

The quick industrialization and rapid growth of Taiwan during the latter half of the 20th century, widely known as the “Taiwan Miracle” can be ascribed to a well-managed combination of export-driven growth, high-tech development and gradualism in its privatisation process.

In recent years, however, there have been increasing worries of economic decline similar to Japan, and it suffered badly from the financial crisis in 2009, when its economy contracted by 2%. Alongside its ageing population and low birth rate, Taiwan’s diplomatic isolation is one of the largest threats to its economic prosperity, leaving it unable to benefit from bilateral and regional free trade agreements.

 

Population: c. 23,072,000  
Capital City: Taipei
Government: Republic, Multi-party Democracy
State Languages: Mandarin Chinese, Taiwanese
GDP per capita (PPP): $ 35,700 USD
Growth Rate: 10%+

 

External Links

  • http://www.moea.gov.tw/ (Ministry of Economic Affairs, R.O.C) . Official website Taiwan’s Ministry of Economic Affairs. Conteins an useful business guide and rilevant information for foreigns investitors.

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