Taiwan

E

Transportation and Communications

Taiwan has a well-developed road and rail network. The majority of railroads and highways are concentrated along the western coast, plains, and basins of Taiwan Island, where the most people live. The principal ports are Hualien, Kaohsiung, Chilung, T’aichung, and Suao. Chiang Kai-shek International Airport near Taipei is Taiwan’s largest airport, and there is also an international airport at Kaohsiung. China Airlines is the government-owned airline of Taiwan.

The media environment in Taiwan is free of government censorship. Both broadcast and print media reflect a wide range of views. Television broadcasting includes commercial and noncommercial networks with options for cable and satellite channels. Taiwan has hundreds of newspapers, the majority of which are privately owned. The major newspapers are based in Taipei. Both Chinese- and English-language dailies are available.

F

Trade

In 2003 Taiwan’s exports totaled U.S.$150.6 billion; imports cost U.S.$127.2 billion. Exports consistently exceed imports, giving Taiwan one of the world’s largest trade surpluses. Exports include machinery, electrical and electronic products, and textiles. A majority of Taiwan’s imports are agricultural and industrial raw materials used by the manufacturing sector to create finished products. Japan and the United States are Taiwan’s most significant trade partners for both exports and imports. Trade with the Chinese mainland is of increasing significance to Taiwan’s economy.

In 1990 Taiwan applied for admission to the General Agreement on Tariffs and Trade (GATT), which was replaced by the World Trade Organization (WTO) in late 1995. In November 2001 the member nations of the WTO approved the accession of Taiwan, and it formally became a member in January 2002. Although Taiwan is a member of the Asia-Pacific Economic Cooperation (APEC), a trade organization of the Pacific Rim, Taiwan’s president was denied participation in APEC’s highest ranking meetings due to opposition from mainland China, which is also a member.

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G

Currency and Banking

Taiwan’s basic unit of currency is the New Taiwan dollar (32 New Taiwan dollars equal U.S.$1; 2008). The bank of issue is the Central Bank of China. The banking sector was opened to privately owned commercial banks in 1991, and all government banks were privatized by 2006.

VI

Government of Taiwan

The current constitution of the government on Taiwan was adopted during the Chinese civil war in 1947, two years before the leaders of the government retreated to the island from the mainland. A series of additional articles became effective in 1991, 1992, 1994, and 1997. Among the most significant changes was the 1994 adoption of presidential elections by popular vote. Voting is universal for all citizens aged 20 or older.

A

President

The president is the head of state and represents Taiwan in its foreign relations and at state functions. Formerly, the president was elected by the National Assembly to a six-year term. Constitutional amendments reduced the presidential term to four years and called for direct elections by popular vote. The first popularly elected president took office in 1996.

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