Taiwan

Taiwan / officially known as the Republic of China and as Chinese Taipei in the International Olympic Committee and the World Trade Organization, is a country located in East Asia, with 99% of its territory on the island of Taiwan. Before 1949, it was an integral part of Greater China, and was considered a founding member of the United Nations And one of the five members

Taiwan is an island located in Southeast Asia, in the Pacific Ocean, separated from China by the Formosa Strait, and the distance between it and China does not exceed 140 km, and Taiwan consists of the island of Formosa and a number of other small islands, most notably: Pescadores, Kimoy, Mansoa, and Byzanas. The area of ​​Taiwan is 36,962 km, and the Tropic of Cancer passes in its midst, and the island is rectangular, its length from north and south and width between east and west, and the highlands constitute approximately half of its area, and it is concentrated on the eastern side, and its land descends into hills and then plains in the west, and its rivers are small and fast flowing, most of which are heading to the West

The central mountain cluster Shang Yang-Shanmu, occupies about half the area of ​​the region, and includes four high mountain ranges extending from north to south, and most of these mountains are more than 3,500 meters high, and Mount Yushan (Morrison) rises up to 3997 meters. There are other mountain ranges, including the chain that runs along the eastern coast between the cities of Sawa and Hualien, which is the source of most of the large rivers on the island, the Taitung mountain range on the west coast, and the volcanic Tatun Mountains in the north. The feet of the mountains form a narrow range, rising from 100 to 500 meters, that gradually turns into lowlands surrounding most of the main mountain ranges. The coastal plain and river basins form flat lands

The industrial boom and the rapid economic growth that the island witnessed in the last half of the last century has been called the Taiwan miracle or the Taiwan economic miracle. As the industrial and economic boom in Taiwan coincided with the economic development of South Korea, Singapore and Hong Kong, the four countries were called the Asian tigers

By 1945, inflation had hit all parts of mainland China and Taiwan as a result of the war with Japan. In order to get Taiwan out of this crisis, the national government issued a new currency different from the one used on the Chinese mainland and set up a price control program. These economic policies slowed the speed of inflation and slightly curbed the rise in prices. With the outbreak of the Korean War in the region in 1950, the US authorities established a program of aid for the devastated region, which led to complete price stability in Taiwan by 1952

The Cometang government has also put in place laws to reform the economy, which have not yet been implemented in mainland China, despite their existence; Among the most important of these were the laws on agrarian reform and the determination of individual ownership of land. It has also established programs to replace imports and manufacture them locally instead of importing them; Most of these reforms have been successful as a result of the United States' support for the country's industrial sector as well as the high cost support of manufacturing imports domestically

Today, the Republic of China has a free, capitalist economy, oriented towards exports, with a decline in the state's role in investment and foreign trade operations. In order to continue this approach, many of the major state-owned banks have been privatized. Taiwan has achieved a GDP increase of 8% during the past three decades, and exports have been the main driver of the industrialization movement in the country. Taiwan has also achieved a large trade surplus in addition to huge foreign exchange reserves that are the fourth in the world after each of the People's Republic of China. Japan and Russia (census December 31, 2008)

The central bank issued the country's new currency, the New Taiwan dollar, in 2000 at an exchange rate of 32.26 New Taiwan dollars against the US dollar (the exchange rate was on October 15, 2009).

In the early nineties of the last century, economic exchange between the Republic of China and the People's Republic of China witnessed great prosperity. In 2005 alone, Taiwan investments in China were estimated at about 50 billion dollars, and nearly a million Taiwanese lived in China to conduct their business personally

Despite it being a positive economic phenomenon for the Taiwan economy, many Taiwanese investors have expressed their concern, as the Taiwan economy has become strongly dependent on the Chinese economy, while others believe that the two countries' dependence on each other's economy makes the Chinese military intervention a faraway matter as it will cost a step. Such a lot for the Chinese economy makes the possibility of the island being subjected to military attacks from the People's Republic of China impossible

Agriculture contributed only 2% of the GDP in 2001 compared to 35% in 1952, and traditional industries with high employment (such as agriculture) were replaced by other technological and capital industries, making the Republic of China the largest foreign investors in the People's Republic of China, Thailand, Indonesia and the Philippines. Malaysia and Vietnam. Due to its conservative economic outlook and following up on the strengths of the feasibility studies carried out by the Taiwan government before entering into various economic projects, the country was slightly affected by the economic crisis that struck Asia in 1997

In contrast to its neighbors such as Japan and South Korea, the Taiwan economy is based mainly on small or medium-sized companies, unlike the rest of the major economic countries of Southeast Asia, whose economy is based on capitalist blocs among the major companies. The decline of the global economy, coinciding with the weakness of the coordination policies of the new administration of the country and the increase in the internal debt, led to a recession in 2001, making it the first time since 1947 that Taiwan achieved negative results for economic growth

The transfer of many industries with high labor intensity to the People's Republic of China also helped to increase unemployment rates not witnessed in the country since the global fuel crisis in 1970. This issue was the main focus of the presidential elections in 2004. Finally, the country witnessed a rise in the period between 2002 and 2006. The rate of economic growth was estimated at 4%, with unemployment rates falling to less than 4% of the total workforce in the country