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The economy of Taiwan is a highly developed free-market economy.It is the 8th largest in Asia and 20th-largest in the world by purchasing power parity, allowing Taiwan to be included in the advanced economies group by the International Monetary Fund. [20]
Taiwan also wants to move into the biotechnology sector, the creation of fluorescent pet fish and a research-useful fluorescent pig [12] being two examples. Taiwan is also a leading grower of orchids. Taiwan's information technology (IT) and electronics sector has been responsible for a vast supply of products since the 1980s.
"Taiwan matters far more to the world economy than its 1% share of global GDP would indicate," Gareth Leather, Senior Economist in the Emerging Asia team at Capital Economics, wrote in a note.
It is home to some of the most economically dynamic places in the world, [11] being the site of some of the world's most extended modern economic booms, including the Taiwan miracle (1950–present) in Taiwan, Miracle on the Han River (1974–present) in South Korea, Japanese economic miracle (1950–1990) and the Chinese economic miracle (1983 ...
Taiwan is planning to inject $1 billion a year into its AI industry, its technology minister said. Wu Cheng-wen told Nikkei Asia that "AI sovereignty" is critical and benefits Taiwan's security ...
But the United States then set up the U.S.-Taiwan Initiative on 21st Century Trade, which joined the U.S.-Taiwan Economic Prosperity Partnership Dialogue and Technology Trade and Investment ...
That’s because the self-ruled island of 23 million people has an outsized impact on the global business and trade, mainly because of its world-beating chips industry. What’s at stake for the ...
The first list includes estimates compiled by the International Monetary Fund's World Economic Outlook, the second list shows the World Bank's data, and the third list includes data compiled by the United Nations Statistics Division. The IMF's definitive data for the past year and estimates for the current year are published twice a year in ...