How has Taiwan's economy been doing?

Question

I've been gaining an interest in global economies, and I'm just curious how the economy in Taiwan has been in recent years. Where does Taiwan stand economically in the world? I know that it had a lot of success because of the computer hardware companies in Taiwan. Can someone tell me about it?

Answer 1

I lived in Taiwan for the past 2-3 yrs

Time-wise lemme break this thing into two parts:

part one, recent half a year:

They had a new president this May

Ever since the new president, the stock market has gone down, index dropping from 8800 something to the current 6900-ish

this is intriguing because the new president is clearly pan-China, and advocates a stronger economical relationship with China (after eight years of reigning under strong anti-China political stance).

The reason why it's intriguing is because many people thought a closer China policies would boost the economy growth, however it's not proved yet that such policies are helpful for Taiwan's economy.

part two, past 2-3 years:

in the past 2-3 years, the economy grew at a relatively normal pace. However, I'd say the economy didn't grow much as HK, Korea, and other Asia countries, but looking at Korea it also created huge difference between the poor and wealthy. The gap is so great that no one (not really, but) under 35 years old can afford to buy a home.

The gap, altho still great, isn't as huge of a problem in Taiwan.

The country's economy as a whole should still be ranked somewhere about 12th to 17th place worldwide in my opinion.

Yes the computer and high tech industries are still the basis of the country's economy. These industries are still to lead Taiwan for the next perhaps decade or so.

Real Estate:

It should be noted as well that residential real estate (especially the high end) in Taipei city from 2005 autumn quarter to 2008 spring quarter rose probably 65%, roughly estimating. (that is about 20-25% a year) It is slowing down now, even chilling down a tiny bit.

Commercial use real estate hasn't rise that much, but has better prospects than residential use real estate due to the rise of tourism industry, which is the other industry that is worth mentioning. This growth comes from the newly introduced tourists from China. (previously the bar and policies against Chinese tourists to Taiwan was set way too high by the government)

peace

hope that helps

Answer 2

I cannot tell you too much for I don't know much myself but I'll tell you what I know about it.

From what my mom and dad talk about around the dinner table in Chinese, I understand that the previous president of Taiwan had gotten into a lot of trouble, with the economy and the public (Many people did not like his anymore). Basically a huge mess that he left behind for the new president to take care of. Now that the new president has been elected a couple months ago, things has been slowly turning up and being fixed.

Here is the Wikipedia page about the economy. Perhaps it can be of a help to you: http://en.wikipedia.org/wiki/Taiwan#Econ...