Melania Trump Club

Tuesday, March 29, 2011

Economy of Taiwan

Taiwan's quick industrialization and rapid growth during the latter half of the 20th century has been called the "Taiwan Miracle" (台灣奇蹟) or "Taiwan Economic Miracle". As Taiwan has developed alongside Singapore, South Korea, and Hong Kong, they are collectively known as the "Four Asian Dragons" (or "Four Asian Tigers").
Japanese rule prior to and during World War II brought changes in the public and private sectors, most notably in the area of public works, which enabled rapid communications and facilitated transport throughout much of the island. The Japanese also improved public education and made it compulsory for all Taiwanese citizens.
When the KMT government fled to Taiwan it brought the entire gold reserve and the foreign currency reserve of mainland China to the island, which stabilized prices and reduced hyperinflation.[citation needed] More importantly, as part of its retreat to Taiwan, the KMT brought the intellectual and business elites from mainland China.[62] The KMT government instituted many laws and land reforms that it had never effectively enacted on mainland China. The government also implemented a policy of import-substitution, attempting to produce imported goods domestically. Much of this was made possible through US economic aid, subsidizing the higher cost of domestic production.
In 1962, Taiwan had a per-capita gross national product (GNP) of $170, placing its economy on a par with those of Zaire and Congo. By 2008 per-capita GNP, adjusted for purchasing power parity (PPP), had risen to $33,000, contributing to a Human Development Index equivalent to that of other developed countries. Taiwan's HDI in 2007 is 0,943 (25th, very high),[63] and stands at 0,868 in 2010 (18e, very high), according to the UN's new calculating method ("Inequality-adjusted HDI").
Today Taiwan has a dynamic, capitalist, export-driven economy with gradually decreasing state involvement in investment and foreign trade. Some large government-owned banks and industrial firms are being privatized. Real annual growth in GDP has averaged about eight percent during the past three decades. Exports have provided the primary impetus for industrialization. The trade surplus is substantial, and foreign reserves are the world's fifth largest as of 31 December 2007.
Taiwan’s total trade in 2010 reached an all-time high of US$526.04 billion, according to Taiwan's Ministry of Finance. Both exports and imports for the year reached record levels, totaling US$274.64 billion and US$251.4 billion, respectively.
Agriculture constitutes only two percent of the GDP, down from 35 percent in 1952. Since the 1980s traditional labor-intensive industries have steadily been moved offshore and with capital and technology-intensive industries replacing them. High-technology industrial parks have sprung up in every region in Taiwan. Taiwan has become a major foreign investor in mainland China, Thailand, Indonesia, the Philippines, Malaysia, and Vietnam. As of the end of 2003, it is estimated that some 50,000 Taiwanese businesses and 1,000,000 businesspeople and their dependents are established in the PRC.
Because of its conservative financial approach and its entrepreneurial strengths, Taiwan suffered little compared with many of its neighbors from the 1997 Asian Financial Crisis. Unlike its neighbors South Korea and Japan, the Taiwanese economy is dominated by small and medium-sized businesses rather than large business groups. The global economic downturn, however, combined with increasing bad debts in the banking system, pushed Taiwan into recession in 2001, the first whole year of negative growth since 1947. Due to the relocation of many manufacturing and labor-intensive industries to mainland China, unemployment also reached a level not seen since the 1973 oil crisis. This became a major issue in the 2004 presidential election. Growth averaged more than 4% in the 2002–2006 period and the unemployment rate fell below 4%. Since the global financial crisis starting with United States in 2007, the unemployment rate has risen to over 5.9% and Economic Growth fallen to -2.9%. However, Taiwan managed to move out of the crisis in very good shape. In 2010, economic growth topped 10%, the highest rate in almost 30 years; international trade jumped more than 39% to US$526.04 billion; and the job market has turned a rosy picture with most businesses set to recruit. As a result, IMF estimated Taiwan's 2010 GDP-PPP at over US$34700, surpassing that of Finland, France and Japan all at once.
Leading technologies of Taiwan include:
Bicycle manufacturing, ex: Giant Bicycles, Merida
Biotechnology
Nanotechnology
Communication & Network, ex: D-Link
Laptops and other computers and displays, ex: Acer, Asus, BenQ
Shipping, ex: Evergreen
Semiconductor device fabrication, TSMC
Smartphones, ex: HTC
TFT-LCD, ex: Chimei InnoLux Corporation, AU Optronics
Photovoltaic industry
LED

Uni Air

Uni Air (Chinese: 立榮航空 Lìróng Hángkōng) is an airline based in Zhongshan, Taipei, Taiwan. It is a domestic and regional subsidiary of EVA Air. It was known as Makung International Airlines until 1996, when EVA Air took a majority share of the airline. In 1998, the airline merged with Great China Airlines and Taiwan Airways, which EVA Air also had interests in, to form UNI Airways (Uni Air).
The airline has had the largest market share in the domestic Taiwan market in recent years, and has expanded to include international flights. A few of its McDonnell Douglas MD-90 aircraft have been repainted and are flying for parent carrier EVA Air due to overcapacity. In recent years, Uni Air has launched services to international destinations from the southern Taiwanese port city of Kaohsiung. In 2007, the airline received permission to begin flights to Japan.
UNI Air has operated two-class services, with domestic business- and economy-class seating. Business-class passengers have access to EVA Air's Evergreen Lounges. UNI Air's predecessor, Makung International Airlines, operated a fleet of BAe 146 series jet aircraft. These aircraft were sold when Uni Air was formed. Uni Air's IATA Code is B7, its ICAO code is UIA, and its callsign is Glory.
The airline operates mainly to domestic destinations, but also operates scheduled international flights to Bangkok, Hanoi and Seoul from Kaohsiung and chartered flights to Bali and Jeju from Kaohsiung.Uni Air's destinations .

Kaohsiung International Airport

Kaohsiung International Airport ( officially, 高雄國際航空站; commonly, 高雄國際機場; 高雄国际航空站/高雄国际机场; pinyin: Gāoxióng guójì hángkōngzhàn/Gāoxióng guójì jīchǎng) (IATA: KHH, ICAO: RCKH), also known as Kaohsiung Siaogang Airport ( 高雄小港機場; 高雄小港机场; pinyin: Gāoxióng xiǎogǎng jīchǎng) for the Siaogang District where it is located, is a medium-sized commercial airport located in Kaohsiung City, Taiwan. Kaohsiung International Airport is the second-largest airport in Taiwan in terms of passenger movement and accounts for around 15% of international passenger movements in Taiwan.
History

Originally built as a military airport by the Japanese during the Taiwan under Japanese rule era, Kaohsiung Airport retained its military purpose when the Republic of China government just took control of Taiwan. Due to the need for civil transportation in southern Taiwan, it was demilitarized and converted into a domestic civil airport in 1965, and further upgraded to international airport in 1969, with regular international flights starting in 1972.
During 1970s and 1980s, this airport's international flights were rare, with Hong Kong and Tokyo being the only two destinations. Since early 1990s, the dedicated connection flights to Taiwan Taoyuan International Airport were inaugurated and this brought southern Taiwan travelers much convenience; they can transit via the Taiwan Taoyuan International Airport where there is a higher availability of international flights. Meantime, direct flights to South-east Asia cities were also gradually opened. This reduced the inconvenience that travelers in southern Taiwan needed to travel to the northern Taoyuan before flying south. These contributed to a steady growth in airport passenger/flight movements and a new terminal dedicated to international flights was opened in 1997.
In summer 1998, EVA Air opened a direct flight from Kaohsiung to Los Angeles but it was discontinued only three months later due to low ridership. Northwest Airlines also served this airport, operating from Kansai Airport (1999-2001) and Narita Airport (2002-2003). These two routes were separately suspended due to the low load factor caused by the September 11, 2001 attacks and SARS.
After the Taiwan High Speed Rail's inauguration in January 2007, the Kaohsiung airport suffered great losses in passenger/flight movements; the Taiwan High Speed Rail and record-high costs of jet fuel are eating up most load factors to Taipei Songshan Airport and Taiwan Taoyuan International Airport (frequent buses link the Taoyuan Airport and the THSR Taoyuan Station). Some carriers dropped the two routes while other carriers reduced flights. Carriers now pin their hopes on the increasing flights to Japan, Mainland China and Korea.