Immediately following World War II, Taiwan was still a predominated agricultural economy with half its labor force employed in agriculture and about 44 percent of net domestic product generated in that sector. However, basing on the infrastructure left behind by Japanese, a strong agriculture foundation and the capital assistance gathered from the United States, Taiwanese remarkably developed the pre-condition for economic takeoff. They successfully managed agriculture to provide a considerable net capital flow to non-agriculture. Consequently, Taiwan moved from an agriculture-based economy in the late forties and fifties to a semi-industrialized one by the early seventies, and is presently reaching the stage of a full-fledged industrialization.

During the structure transformation, international trade played a crucial role, which had function of push and go fueled by the long term rate of capital accumulation and technical change. Certainly, for a country like Taiwan, which is......

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Title: Taiwan History And Economy
Approximate Word Count: 639
Approximate Pages: 3 (250 words per double-spaced page)

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