Taiwan's “Economic Miracle” and the Prospect for Unification with Mainland China
Modern Taiwan was transformed from an agricultural society to an industrial power within a generation. The title “Little Japan” evokes a mixed reaction of open displeasure and secret pride. In East Asia, Taiwan is indeed second only to Japan in terms of industrialization, foreign trade, and quality of life. Taiwan's success is its most important weapon in the struggle for survival, security, and international ties. This chapter takes a close look at Taiwan's accomplishments, explaining its current position and future course, as well as future prospects for unification with China. By 1988, Taiwan had enjoyed peace, stability, and sustained economic growth for 35 years. Almost unique in the simultaneous attainment of rapid economic growth, price stability, and the equitable distribution of wealth, Taiwan can be said today to enjoy the highest standard of living in Chinese history.
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