Taiwan, officially the Republic of China, is a country in East Asia. Neighbouring countries include the People’s Republic of China to the northwest, Japan to the northeast, and the Philippines to the south.
Taiwan’s Economy Taiwan was one of the most prominent trading hubs in Asia. International trade contributed to its economy growing tremendously in the 1G00s and late 1800s. However, it suffered during World War II. Its state was so bad, many economists thought it would not recover fully due to its shortage of capital and natural resources, as well as its bad governance. The economy started to bounce back in the 1960s. It continued to thrive despite the financial crisis in 1997. Although there was a recession at the beginning of the 21st century, Taiwan features one of the strongest economies in Asia.
Diversity in Taiwan There are four ethnic groups in Taiwan. These include aboriginal people, the Hakka, which only make up 2 percent of the country’s population, the Fukien Taiwanese, and the Chinese immigrants who migrated to the country in the 19405. Chinese immigrants comprise 25 percent of Taiwan’s population. The people in Taiwan also follow different religions – a true testament to its diversity. Some of the most common religions in the country were brought by the Chinese, which included Confucianism, Buddhism, and Daoism. Additionally, Protestant Christianity, Roman Catholicism, and Shinto were also brought by the Butch, Spanish, and Japanese.SHOW LESS