Question

What was the economic development of taiwan ?

Answer 1

ANSWER:

Taiwan has witnessed rapid 'economic development' over the 'last five decades'.

EXPLANATION:

• The growth of the economy of Taiwan can be attributed to 'rapid industrialization' of the country.

• The government of Taiwan has played a major role in the economic development of the country by allowing expansion of exports and the development of several industries.

• Taiwan also has been able to achieve full-employment and an equitable distribution of income leading to a stabilized economy.

• The growing and progressive economy of Taiwan has enabled it to become one of the 'four Asian Tigers'.

Answer 2

The inability of the financial sector to support new industries is part of a broader problem in Taiwan. ... Insufficient investment has not only led to a low economic growth rate and low wages in Taiwan, but it also has meant huge trade surpluses and hence high foreign pressure for currency appreciation in Taiwan.