Taiwan's International Status Today

In the past three decades Taiwan has gained in terms of its economy but has substantially waned in terms of its international status. Economically, Taiwan has performed so impressively that it has become one of the newly industrialized countries (NICs) that are the envy of many developing nations. Its sustained high growth rate over a fairl, long period commands respect from economists all over the world. In 1983 the GNP of the country approached US$50 billion and its per capita income reached US$2, 444. It is one of the world's top 15 trading nation" and has enjoyed a favourable balance of payments for many years. The 1983 exports and imports were valued at US$25, 117 million and 20, 285 million, respectively.