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President Lee illustrate the reasons about Taiwan's economic success
President
Lee Teng-hui stated in the Taipei American Chamber of Commerce's
New Year Banquet about the island's economic success that results
form a stable foundation of high-tech manufacturing, plentiful
capital, flexible small businesses, and close ties with the three
networks.
The president said that Taiwan's trade volume and foreign
exchange reserves have grown steadily, annual per capita
productivity has risen from US$3,130 in 1985 to US$13,112 last
year. That places Taiwan among the world's 20 largest economies.
Lee also noted that Taiwan's economic development has not only
provided the people with a more wealthy life, but also has made
contributions to the rapid growth of the Asia-Pacific region.
The president listed that high-tech products produced in Taiwan
enjoy a global market share of 60%, and Taiwan has over a million
small and medium-scale enterprises(about 98% of the ROC's
businesses and 80% of Taiwan's employment opportunities). They
are both leads Taiwan economic success.
Besides, Taiwan has US$100 billion in foreign exchange reserves,
and keeps the close link with the three networks (the
"Silicon Valley network," the "Asian network"
and the "ethnic Chinese network." ). That makes the
Taiwan's industry that has plentiful capital and close
relationship with the US, Asia, and China in economic
development.
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Published:
January 12, 2000
Source: Taiwan Headlines