How Taiwan Secretly Became an Economic Superpower
Go to https://ground.news/scholar to stay fully informed on breaking news, compare coverage and avoid media bias. Sign up or subscribe through my link for 30% off unlimited access if you support the mission and find it as useful as I do. In 1950, Taiwan, post-colonial and war-ravaged, grappled with an economic downturn, amplified by the challenges of integrating 2 million refugees. Its GDP per capita then rivaled some of the world s poorest countries like Haiti and Madagascar. With looming threats from China and impending militaristic ambitions, Taiwan s future seemed uncertain. But fast-forward to today, and Taiwan is an economic marvel. With a median wealth surpassing most of Asia—including powerhouses like South Korea—and even rivaling Germany and the U.S., it s a beacon of prosperity. Taiwanese citizens rank among the world s most educated, their democratic governance is robust, and their high-tech industries play pivotal roles in global supply chains. Foxconn, Taiwan s tech giant, produces a speculated 40% of global consumer electronics, and up until recently, manufactured a staggering 80% of iPhones. Moreover, the country maintains a near monopoly on the manufacturing of semiconductors, a crucial component that powers everything in the modern world, from guided missiles, to modern cars and even the device you are using to read this description. From a colony of a militaristic empire to a thriving democracy, and from a backwards agrarian society, to technological Superpower, this is the remarkable story of Taiwan. – Contents of this video -------------------------------- 00:00 - A Broken Island 04:37 - The Bread Basket Colony 08:53 - The White Terror & Reforms 15:22 - The Boom 17:08 - The Miracle 19:54 - The World Abandons Taiwan 21:23 - High Tech Industry 24:17 - Too Much Money & Too Little Profit 26:33 - Making China Rich ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ THIS CHANNEL IS MADE POSSIBLE WITH THE HELP OF PATREON! Support the channel by becoming a Patron today! https://www.patreon.com/CasualScholar Thank you to the channel s generous Patrons! Hayden Haun, Emmanuel Fredenrich, Pulaski, A Fan, robin valero ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ – Sources used --------------------------------------------- Making Money: How Taiwanese Industrialists Embraced the Global Economy By: Gary G. Hamilton & Cheng-Shu Kao A Brief History of Taiwan - a Sparrow Transforming into a Phoenix By: FU-SAN HUANG Historical GDP Per Capita: Maddison Project Database 2020 (Bolt and van Zanden, 2020) Wealth Per Adult: Credit Suisse Global Wealth Databook 2022 Democracy Index: https://www.eiu.com/n/campaigns/democracy-index-2022/ https://press-files.anu.edu.au/downloads/press/p94971/pdf/article07.pdf https://www.jstor.org/stable/58529dd3-2265-33db-923b-6d7f0a67e232?read-now=1&seq=9 https://milkeninstitute.org/sites/default/files/reports-pdf/Recapturing-the-Taiwan-Miracle.pdf http://homepage.ntu.edu.tw/~ntut019/ltes/Sugar-Tea-Policy-en.pdf https://www.economist.com/special-report/2023/03/06/taiwans-dominance-of-the-chip-industry-makes-it-more-important #economics #History #Taiwan #CasualScholar #EconomicHistory #TaiwanHistory
