An army of ants
Article Abstract:
Taiwan is world leader in a number of industries, but it was not singled out in the days when praise was given to Asian economic tigers. Since the collapse of many neighboring economies, the advantages of the relative financial caution of Taiwanese companies has become apparent. Small and medium firms are important in Taiwan, and provide flexibility for the economy, which has not been guided by a grand industrial policy. Chinese values such as hard work and financial conservatism have also helped the Taiwanese economy.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
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The survivor's tale
Article Abstract:
The Taiwanese economy has benefited from a number of factors such as financial caution in business, but luck has also been important. China and the US account for over half of exports from Taiwan, which has been an advantage during the Asian financial crisis. Taiwan has also invested in South East Asia, and devaluations there have cut labor costs. Taiwan also benefits from strong foreign exchange reserves and a low level of foreign debt.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
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