engleski

HOW A TIGER BECAME A PUSSYCAT: A COMPARISON OF ECONOMIC DEVELOPMENT OF TAIWAN AND MAINLAND CHINA

Based on capitalism and socialist measures, Taiwan not only achieved better results than Mainland China during the 1949-91 period, but also better results than any other country in the world in promoting economic growth. A lack of market was the main disadvantage of Mainland China during this period of time. However, its successful pro-market reforms and unsuccessful reforms in Taiwan (based on privatization), reversed the tide. During the last quarter of the century, Mainland China has more effi cient economic system than Taiwan. As a result, Mainland China became the world’s leading econom-ic power in 2014 and it continues to have higher rates of growth than Taiwan.

Taiwan, China, development, economic growth, privatization

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