Taiwan

Introduction

Known as the silicon valley of the East, Taiwan's progress in the last few decades had been remarkable. A small country with a population of 23 million, Taiwan imported nearly all of its energy, most raw materials and various manufactured goods and agricultural items. Despite these disadvantages, hard work and sound economic management had built the country into an economic powerhouse. Taiwan enjoyed a GDP of $10,644.2 billion and a per capita Gross National Product (GNP) of $12,870¹ in 2001. The Taiwanese model of development had become a case study for many developing countries.