Policymakers and academicians in both rich and poor countries have observed the postwar development of Taiwan with a mixture of wonder and amazement. Characterized in the 1950s by per capita incomes of less than $50, hyper-inflation, and complete dependence on outside aid, tiny Taiwan has emerged as the thirteenth strongest trading nation in the world, moving steadily toward equitable distribution of income and the alleviation of poverty. Observers throughout Asia, in Latin America, and in Africa seek to understand how this "economic miracle" has been accomplished and ask whether the experience is transferable, in whole or in part, and whether the economic gains will continue.
What must Taiwan do in order to fully join the charmed circle of mature capitalist countries? Looking at the island's economic and social system as a whole and on a sector-by-sector and market-by-market basis, the contributors to this volume reveal the path of structural changes that made existing gains possible and analyze current conditions and specific requirements for organizational and policy changes in the future.
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