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=== Taiwna - Economy === | === Taiwna - Economy === | ||
Prior to WWII, Taiwan had a largely agrarian economy. However the war caused major damage to all areas of | Prior to WWII, Taiwan had a largely agrarian economy. However the war caused major damage to all areas of Taiwan, as far as its ability to sustain itself. | ||
By 1945, hyperinflation was in progress in mainland China and Taiwan as a result of the war with Japan. To isolate Taiwan from it, the Nationalist government created a new currency area for the island, and began a price stabilization program. These efforts significantly slowed inflation. | By 1945, hyperinflation was in progress in mainland China and Taiwan as a result of the war with Japan. To isolate Taiwan from it, the Nationalist government created a new currency area for the island, and began a price stabilization program. These efforts significantly slowed inflation. | ||
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Today Taiwan has a dynamic, capitalist, export-driven economy with gradually decreasing state involvement in investment and foreign trade. In keeping with this trend, some large government-owned banks and industrial firms are being privatized. | Today Taiwan has a dynamic, capitalist, export-driven economy with gradually decreasing state involvement in investment and foreign trade. In keeping with this trend, some large government-owned banks and industrial firms are being privatized. | ||
Taiwan has had a real growth in GDP of about 8% per year over the last 25 years, making it a truly economic miracle and an example of what a democratic, capital driven economy can achieve. | Taiwan has had a real growth in GDP of about 8% per year over the last 25 years, making it a truly economic miracle and an example of what a democratic, capital driven economy can achieve. | ||
==Macau== | ==Macau== | ||
===History=== | ===History=== | ||
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