Taiwan Part 2

Government and Economics

Taiwan is a Unitary State with a Semi-Presidential system and is a Constitutional Republic. Taiwan's President is Ma Ying-jeou. Their government has something called the Five Yuan, which is just five branches of government. These are the executive Yuan, Legislative Yuan, Control Yuan, Examination Yuan, and the Judicial Yuan. Small and medium-size enterprises have been the backbone of Taiwan’s economic dynamism. The commercial code is well developed, and open-market policies continue to facilitate the free flow of goods and capital. A sound legal framework provides strong protection of property rights and upholds the rule of law.


The economy of Taiwan is the 5th largest economy in Asia, and is included in the Advanced economies group by the International Monetary Fund, and ranked 15th in the world by the Global Competitiveness Report of World Economic Forum. Taiwan went through a financial crisis in the late 1990's and Taiwan's SMEs won international acclaim for the way in which they stood up to the impact of the crisis. Their development went through seven stages the first is that Taiwan's economy suffered severe damage during the Second World War. Second Taiwan went through a period of import substitution based on labor-intensive light industries. Third, Taiwan saw rapid growth of Taiwan's exports. Forth, the overall growth rate for labor-intensive light industries rose, the economy as a whole continued to grow, and Taiwan began to develop a trade surplus. Fifth, The business environment in Taiwan changed as wages rose and the New Taiwan dollar appreciated against the US dollar. Sixth, global and regional organizations became increasingly important. Lastly, Taiwan was aided by the application of the Internet, e-commerce and IT, has provided SMEs with a new operating model and has enhanced the speed and efficiency of business operations.

Population below poverty line: 1.5%

GDP per capita: 31,900. USD

Currency: New Taiwan Dollar

Top Exports:

  1. Electronic equipment
  2. Machines, engines, pumps
  3. Plastics
  4. Medical, technical equipment
  5. Oil
  6. Vehicles
  7. Organic chemicals
  8. Iron and steel
  9. Iron or steel products
  10. Other chemical goods

Top Imports:

  1. Locust Beans
  2. Seaweed
  3. Sugar Beet
  4. Cane


  • Taiwan is a place of diverse cultures, with influences from the Chinese, the Japanese, the Hakka, Southeast Asian countries, and Taiwan's aboriginal tribes. Some Festivals in Taiwan are Chinese New Year, Lantern Festival, Dragon Boat Festival, Chinese Valentine's Day, The Moon Festival, Taiwan National Day. Taiwanese hand puppet shows are still a very popular form of traditional street entertainment. Puppet shows are often the main featured event at local festivals.
  • Arts such as woodcarving, weaving ,wickerwork, and pottery, as well as ceremonial dance and song, have always played central roles in indigenous life, and have strong traditions of individuality, innovation, and creativity.
  • Taiwan has a very active literary scene, with a large number of writers of novels and very short stories enjoying a wide readership, many of them for many decades running. A short selection of prominent writers and poets includes:

    1. Wu Zhuoliu
    2. Bo Yang
    3. Huang Chunming
    4. Pai Hsien-yung
    5. Chen Ruoxi
    6. Wang Wenxing
    7. Yang Mu
    • As for music Opera is popular in Taiwan. Taiwanese opera is said to have originated from Taiwan's Yilan at the beginning of the twentieth century. The art form was originally called Luodisao, and all the actors were male.
    • Taiwan's dance forms are intricately linked with the country's ethnic composition and historical background, and each of the local dances draws their unique colors from the island's rich cultural heritage.
    • Taiwan's National Theater and National Concert Hall are two of the first major modern performing arts facilities to be established in Asia.
    • National Taiwan Museum-established in 1908, is the oldest museum in Taiwan. It was founded by the colonial government during Taiwan's period of Japanese rule. The museum is located in Taipei.
    • Some of the most common sports include basketball, baseball, football and softball. Martial arts such as t'ai chi ch'uan and taekwondo are also practiced by many people.

    Just for Fun

    The top attractions in Taiwan are the Taroko Gorge, Elephant mountain which has beautiful hiking trails, Maokong Gondola, and the Ching-Shui cliff.


    Taiwan is one of the world's trading powerhouses and offers one of the most favourable environments for investment in Asia. It currently ranks as the 20th largest economy in the world according to the International Monetary Fund and is the world's 18th largest trading entity according to the World Trade Organization. The steady improvement in relations with China, continued deregulation, and streamlined procedures for setting up operations on the island, along with a series of tax reforms, have made Taiwan a more attractive place for business investment.

    National Anthem

    Our aim shall be:


    To found a free land, World peace, be our stand.


    Lead on, comrades, Vanguards ye are.


    Hold fast your aim, By sun and star.


    Be earnest and brave, Your country to save,


    One heart, one soul, One mind, one goal...


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