Taiwan

In 1895, military defeat forced China to cede Taiwan to Japan. Taiwan reverted to Chinese control after World War II. Following the Communist victory on the mainland in 1949, 2 million Nationalists fled to Taiwan and established a government using the 1947 constitution drawn up for all of China. Over the next five decades, the ruling authorities gradually democratized and incorporated the local population within the governing structure. In 2000, Taiwan underwent its first peaceful transfer of power from the Nationalist to the Democratic Progressive Party. Throughout this period, the island prospered and became one of East Asia's economic "Tigers." The dominant political issues continue to be the relationship between Taiwan and China - specifically the question of Taiwan's eventual status - as well as domestic political and economic reform.

Economical characteristics

 * Currency: (ISO code: )
 * Central bank discount rate: 1.25% (February 2009)
 * Commercial banks lending rate: 2.56% (31 December 2009)
 * Stock of money (M1):
 * Quasi money (with M1 makes M2): $618 billion (November 2008)

Notable events:

 * Banking crisis: 1983-1984, July 1995, 1997-1998

Links

 * Taiwan on Wikipedia
 * Central bank of Taiwan
 * BBC country profile
 * The Taiwan Model by Hugh Macaulay, July 1998