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Taiwan, My Home-Country, Joined the Term Paper
Pages:5 (1680 words)
Sources:1+
Document Type:Term Paper
Document:#11962426
. This measure led to the creation of the country's financial power and allowed the peasantry to work in the urban sectors.
Therefore, the productivity growth, the great behavior of the workforce, the low salaries, the good education, and maybe most important of all, the hard work and social peace have lead to the occurrence of another Asian Tiger. "In the 80's, Taiwan had become an economic power with a mature and diversified economy, solid presence in international markets and huge Foreign exchange reserves." Its companies diversified their activities and started to export their products, especially in China and United States. The higher salaries, a better organization and the reduction of the exports quotas allowed these companies to move their production to China and Southeast Asia as well. The civil society started to fight for democracy, and the first step to adopt this regime was done through the arrival of Lee Teng-hui at the presidency. Moreover, in 1962, Taiwan registered a per capita gross national product (GNP) of $170 and in 2005 Taiwan's per capita GNP, adjusted for purchasing power parity (PPP). Therefore, the country registered an amazing development, similar to that of some European countries.
Even though, Taiwan is still experiencing a great problem, mainly the lack of consolidation of the financial sector, since there is no bank to control more than 10% of the market. The previous help given by U.S. To Taiwan is well-known. Can the American state do something in this perspective as well? How can Bank of America act as an example for the Bank of Taiwan? Will the Bank's decision to sell shares solve anything?
Possible answer: At this level, I do not think that a foreign aid would solve anything. The problem can only be solved in the national arena. On the other hand, the Bank of Taiwan's decision to sell shares in 2005 seems to have improved the situation in a certain perspective, since other Banks with a greater international prestige entered the market.
Bibliography
Association of Southeast Asian Nations, at http://www.aseansec.org/64.htm
World…
Sample Source(s) Used
Bibliography
Association of Southeast Asian Nations, at http://www.aseansec.org/64.htm
World Trade Organization, at http://www.wto.org/
The Taiwan Miracle, at http://en.wikipedia.org/wiki/Taiwan_Miracle
Ibidem 1
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