Taiwan and International Trade
Taiwan, an island, is separated from the mainland of South China by the 100-mile-wide Taiwan Strait in the Pacific Ocean and is the seat of the Republic of China government (ROC). The capital of Taiwan is Taipei and other major cities include Kaohsiung, Tainan, Taichong, and Chilung. The languages spoken are the Mandarin, Fujianese (Amoy), and Hakka dialects. Religions on the island include Confucianism, Taoism, Buddhism, and Christianity. The 1990s have been a time of change and achievement for Taiwan. Politically, Taiwan has undergone a dramatic transition from an authoritarian government to a true democracy and on the economic front, Taiwan has continued to prosper. For the past 20 years, Taiwan has had one of the fastest growing and most dynamic economies in the world. With over $80 billion US in foreign capital reserves, an average growth rate of 7.8 percent between 1986 and 1996, and a per capita gross domestic product (GDP) of $15,000, Taiwan has become a powerhouse in the global economy.1 Its remarkable success comes after five decades of hard work and sound economic management that have transformed Taiwan from an underdeveloped agricultural island to a leading producer of high-technology
30 Notable restrictions are also applied to a number of agricultural products, including sugar and rice. Certainly, Taiwan's largest trading partners, such as the United States and Japan, will enjoy a substantial share of these new opportunities, however, Taiwan is a diversified trader that maintains substantial trade relationships with many countries. 32 Taiwan's import system for alcohol and tobacco products has also been criticized as "cumbersome and costly. See Tables 1, 2, and 3, respectively, for "Taiwan's Top Trading Partners," "Taiwan's 10 Major Export Markets," and "Taiwan's 10 Major Import Sources" for the years 1997 and 1998. "Tight Little Island," Forbes 12 January 1998: p.
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Acceptance Essays
