Thursday, July 25, 2013

Taiwan's economy

I did a bit research on Taiwan’s economy. According to Wikipedia, Taiwan was ranked 19th in the world by Purchasing Power Parity (PPP) and 18th by Gross Domestic Product (GDP), which is pretty surprising. Well, at least it’s surprising to me. I used to think that Taiwan would rank no more than 25th. Another point that draws my attention is the first step of Taiwan’s economic foundation. Wikipedia said, “The first step towards industrialization was land reforms, a crucial step in modernizing the economy, as it created a class of landowners with capital they can invest in future economic endeavors.” At the beginning when KKK came to Taiwan, it’s a mass. Corruptions were everywhere. Farmers couldn't feed themselves because the landowners took all the lands. Then the government decided to start the land reforms. Lands were distributed to the farmers so they could grow enough plants for themselves and exporting. It paved the way for further economic development. Now the Taiwanese economy is solid and growing steadily. Hope this can continue.

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