Taiwan's Economic Growth

Definition

This refers to Taiwan's transformation from an agrarian economy to an industrialized, high-tech economy within decades, often referred to as the "Taiwan Miracle."

Related terms

Taiwan Miracle: The rapid industrialization and economic growth of Taiwan during the latter half of the 20th century.

Export-oriented Industrialization: An economic policy strategy that emphasizes exporting goods for which national resources provide comparative advantages. It was key to Taiwan’s success.

Information Technology Industry: One sector where Taiwan has gained global prominence, producing renowned tech companies like ASUS and Acer.