Economic Outlook
Taiwan now faces many of the same economic issues as other developed economies. With the prospect of continued relocation of labor-intensive industries to economies with cheaper work forces, such as in China and Vietnam, Taiwan's future development will have to rely on further transformation to a high technology and service-oriented economy. In recent years, Taiwan has successfully diversified its trade markets, cutting its share of exports to the United States from 49% in 1984 to 20% in 2002. Taiwan's dependence on the United States should continue to decrease as its exports to Southeast Asia and China grow and its efforts to develop European markets produce results. Taiwan's accession to the WTO and its desire to become an Asia-Pacific "regional operations center" are spurring further economic liberalization.
Read more about this topic: Economy Of Taiwan
Famous quotes containing the words economic and/or outlook:
“... business training in early life should not be regarded solely as insurance against destitution in the case of an emergency. For from business experience women can gain, too, knowledge of the world and of human beings, which should be of immeasurable value to their marriage careers. Self-discipline, co-operation, adaptability, efficiency, economic management,if she learns these in her business life she is liable for many less heartbreaks and disappointments in her married life.”
—Hortense Odlum (1892?)
“Even in ordinary speech we call a person unreasonable whose outlook is narrow, who is conscious of one thing only at a time, and who is consequently the prey of his own caprice, whilst we describe a person as reasonable whose outlook is comprehensive, who is capable of looking at more than one side of a question and of grasping a number of details as parts of a whole.”
—G. Dawes Hicks (18621941)