Taiwan It

Taiwan – IT Industry

Introduction

Taiwan is an island in Eastern Asia, which is divided from Mainland China by Taiwan Strait. Formally, Taiwan is a one of the provinces of China but, in fact, it is a separate country (Republic of China). The country has short but very rich and complex history.

Basic data and information (CIA FactBook, 2013):

* The country covers total area of 35,980 sq km,

* Population is over 23 mn people,

* In 2012, GDP rate was on the level of 1.3% (10.8% in 2010) - $ 474 bn. in 2012,

* The country has weak natural resources base: small deposits of coal, natural gas, limestone, marble, and asbestos,

* Industries: electronics, communications and information technology products, petroleum refining, armaments, chemicals, textiles, iron and steel, machinery, cement, food processing, vehicles, consumer products, pharmaceuticals,

* In 2012, unemployment rate was on the level of 4.2%,

* Taiwan exports electronics, flat panels, machinery; metals; textiles, plastics, chemicals; optical, photographic, measuring, and medical instruments,

* Taiwan imports electronics, machinery, crude petroleum, precision instruments, organic chemicals, metals,

* Important trade partners: China, Hong Kong, US, Japan, Singapore,

* Taiwan was ranked on 16th place in Doing Business 2014 Report.

Taiwan is an export-oriented country - it is one of the biggest traders on the World. The condition of the country’s economy strongly depends on the conditions of the global environment (demand) - the country has small internal market. Moreover, Taiwan is a multiparty democracy and has unclear (formal) political status. However, the country is a well-developed, open economy and faces challenges in the following areas: diplomatic isolation, low birth rate and rapidly aging population. In the second half of XX century, Taiwan has experienced rapid development and growth of the domestic economy – its structure was switched from...