Thursday, April 21, 2011

Taiwan’s Emerging Economy and its Currency the New Taiwan Dollar

Taiwan, formerly known as Formosa, is an island located in East Asia in the Pacific Ocean off the coast of communist mainland China. The name Taiwan is also commonly used to refer to the Republic of China, which has almost all of its territory located on the island.

Historically, the Republic of China’s governance included mainland China until the communist takeover in 1949 left the ruling Kuomintang or KMT in charge only of Taiwan and some small islands. The mainland based People’s Republic of China still does not recognize Taiwan and claims its territory.

Taiwan was governed under the KMT after 1928, although a multi-party democratic system evolved in the 1980’s and 1990’s. The country’s constitution was established in late 1947. Taiwan’s head of state is the President and the country has a single house legislature known as the Legislative Yuan.

Most of the country’s population adheres to a combination of religions, including ancient Chinese polytheism, Buddhism, Confucianism and Taoism, although a minority of Christians and Muslims are represented.

Taiwan has little ethnic diversity, with the largest ethnic group consisting of Han (98%) that can be further broken down into Hoklo (70%), Hakla (14%) and Mainland Chinese (14%). An additional 2% are native Taiwanese.  make up just over 28% of the population as of the 2000 census. The national language of the country is Filipino that is based on the Tagalog language.  

Other ethnic groups present include the Cebuano (13%), Ilocano (9%), Bisaya/Binisaya (7.6%), Hiligaynon (7.5%), Bikol (6%) and Waray (3.4%), with the additional 25.3% being classified as Other.

Economic Overview of Taiwan

Taiwan is known as one of the Asian Tigers and has a developed capitalist economy that is predominantly market-based. The economy ranked 24th worldwide in 2010 in terms of its nominal GDP of $427.0 billion. The country also ranked 19th worldwide in 2010 in terms of purchasing power parity or PPP GDP that was then at $810.5 billion, and it showed an impressive annualized GDP growth of 10.5% in 2010.

Roughly 69.2% of the country’s GDP is produced by its services sector, with 29.2% from industry, and only 1.6% coming from agriculture as of 2009. Particularly important areas of industrial activity within the Taiwanese economy include: the manufacture of electronics, IT, arms, machinery, chemicals, pharmaceuticals, textiles, iron, steel, vehicles, cement and communications products, as well as food processing.

Inflation in Taiwan has recently been well below that seen in most industrialized nations, with its level measured at -0.87% in 2009. Furthermore, the unemployment rate among the Taiwanese population of roughly 23.1 million people in 2010 was measured at just 4.73% in late 2010.

Although Taiwan saw a reduction in growth in 2008 and 2009 during the global economic crisis, the country recovered well from this slowdown and continues to show considerable economic strength near the top of the more mature emerging markets countries.

The Taiwanese Currency – The New Taiwan Dollar

The currency used in Taiwan is known as the New Taiwan Dollar, and its ISO 4217 code is TWD. Each Dollar is further divided into 100 cents. The currency has been in use under that name as legal tender in Taiwan since 1949, when it replaced the depreciated Old Taiwanese Dollar in an attempt to quell hyperinflation that had troubled the country.

In terms of the Taiwanese currency’s availability to business loans, many online brokers do not yet accommodate offering the New Taiwan Dollar. Nevertheless, the currency is actively traded among the exotic currencies but tough to acquire small business loans using it.

Blog Archive

“Control oil and you control nations; control food and you control the people.” Henry Kissinger

once a standing army is established, in any country, the people lose their liberty.”
George Mason

“Military men are dumb, stupid animals to be used as pawns for foreign policy.”
Henry Kissinger

“If you are an ordinary person, then you can prepare yourself for war by moving to the countryside and building a farm, but you must take guns with you, as the hordes of starving will be roaming. Also, even though the elite will have their safe havens and specialist shelters, they must be just as careful during the war as the ordinary civilians, because their shelters can still be compromised.”
Henry Kissinger

"We don't let them have ideas. Why would we let them have guns?" Joseph Stalin

The people who cast the votes decide nothing. The people who count the votes decide everything.
Joseph Stalin

Governments keep a lot of secrets from their people . . .
Why aren't the people in return allowed to keep secrets
from the government?


“Some call it Communism, I call it Judaism.”

Rabbi Stephen Weiss

“Anti-Communism is Anti-Semitism.”
Jewish Voice, July - August 1941

Taxing People is Punishing Success

There's the rich, the poor, and the tax payers...also known as the middle class. Robert Kiyosaki

The Tax you pay is The Bill for Staying Stupid

Stefan Molyneux

“The modern banking system manufactures money out of nothing. The process is, perhaps, the most astounding piece of sleight of hand that was ever invented. Banks can in fact inflate, mint and un-mint the modern ledger-entry currency.” Major L L B Angus

The few who understand the system will either be so interested in its profits or so dependent on its favours that there will be no opposition from that class, while on the other hand, the great body of the people mentally incapable of comprehending the tremendous advantage that capital derives from the system will bear its burdens without complaint and perhaps without even suspecting that the system is inimical to their interests.
The Rothschild Bros

"Debts must be collected, bonds and mortgages must be foreclosed as rapidly as possible. When, through a process of law, the common people lose their homes they will become more docile and more easily governed through the influence of the strong arm of government, applied by a central power of wealth under control of leading financiers.

This truth is well known among our principal men now engaged in forming an imperialism of Capital to govern the world.

By dividing the voters through the political party system, we can get them to expend their energies in fighting over questions of no importance. Thus by discreet action we can secure for ourselves what has been so well planned and so successfully accomplished."

USA Banker's Magazine, August 25 1924

Cutting Tax Rates stimulates Economic Growth creates more Profit , more Jobs and therefore The Treasury ends up with more Tax Money

Taxation is legalized Theft

"The Objective of the Bank is not the control of a conflict , it's the control of the debt that a conflict produces . The real value of a conflict , the true value is in the debt that it creates . You control the debt , you control everything . this is THE VERY ESSENCE OF THE BANKING INDUSTRY , to make us all , whether we be nations or individuals , SLAVES TO DEBT " An UNKNOWN Banker

Patriotism is the last refuge... to which the scoundrel clings .... Steal a little and they throw you in jail ..steal a lot and they make you king ....

Bob Dylan

"Corporations are stealing billions in tax breaks, while the confused, screwed citizenry turn on each other. International corporations have no national allegiance, they care only for profit." Robert Reich

There is NO political answer to a spiritual problem!
Steve Quayle

litical Correctness is a Political Stand Point that does not allow Political Opposition , This is actually The Definition of Dictatorship
Gilad Atzmon

The modern definition of racist is someone who is winning an argument with a liberal
Peter Brimelow

When People lose everything and have nothing left to lose , They Lose It !


Your Greatest Teacher is Your Last Mistake

The one who Controls the Education System , Controls Perception

"The world will not be destroyed by those who do evil, but by those who watch them without doing anything."

Albert Einstein

In The Left Nothing is Right & in The Right nothing is Left

No man escapes when freedom fails; The best men rot in filthy jails. And those that cried 'Appease! Appease!' Are hanged by those they tried to please

Freedom is not Free

Don't Steal The Government Hates The Competition

Ron Paul

"Buy The Rumor , Sell The Fact " Peter Schiff

You can love your Country and not your Government

Jesse Ventura

" The Government Works for ME , I do not answer to them They Answer to ME "
Glenn Beck

"Tyranny will Come to Your Door in a Uniform "
Alex Jones

"The Government is not The Solution to our Problems , The Government is The Problem "

Ronald Reagan

"The price good men pay for indifference to public affairs is to be ruled by evil men." Plato

The world is a tragedy to those that feel, and a comedy to those that think...Beppe Grillo

"The people should not fear the government for it is the government who should fear the people" UNKNOWN

"If You are looking for solutions to the world's problems , look in the Mirror , You Are The Solution , You have the power as a human being on this planet " UNKNOWN

"They don't control us , We empower them " UNKNOWN

"Serial Killers do on a Small Scale What Governments do on a large one..."

Serial Killer Richard Ramirez

There is a Class War going on in America, & unfortunately, my class is winning." Warren Buffet

"When the people fear their government, there is tyranny; when the government fears the people, there is liberty."

Thomas Jefferson

"College is a waste of Money"
Albert Einstein

Schools manufacture people who think that they're smart but they're not.
Robert Kiyosaki

Education is what you learn after you leave School
Robert Kiyosaki

" ‏Schools were designed to create employees for the big corporations."
Robert Kiyosaki

"If a law is unjust, a man is not only right to disobey, he is obligated to do so" Thomas Jefferson

Dissent is the highest form of patriotism
Thomas Jefferson

“True education makes you feel stupid. It makes you realize you have so much more to learn.” Robert Kiyosaki

"One day your life will flash before your eyes. Make sure it's worth watching." - Gerard Way

"Aspire not to have More but to be More "

The losers in life think they have all the answers. They can’t learn because they’re too busy telling everyone what they know.
Robert T. Kiyosaki ‏

"Failure is simply the opportunity to begin again. -This time more intelligently." Henry Ford

What You Own Owns You

If you expect the government to solve your problems, you have a problem. Robert Kiyosaki

"Those who give up their liberty for more security neither deserve liberty nor security." Benjamin Franklin

"None are more hopelessly enslaved than those who falsely believe they are free.” -
Johann Wolfgang von Goethe

"Always trust someone who is seeking the truth , never trust someone who found it" Jordan Maxwell

Be The Change you want to see in The World

Failure inspires winners but defeats losers
Robert Kiyosaki ‏

“If you are planning for a year, sow rice; if you are planning for a decade, plant trees; if you are planning for a lifetime, educate people” A Chinese Proverb

"First they came for the Socialists, and I did not speak out--
Because I was not a Socialist.

Then they came for the Trade Unionists, and I did not speak out--
Because I was not a Trade Unionist.
Then they came for the Jews, and I did not speak out--
Because I was not a Jew.
Then they came for me--and there was no one left to speak for me." UNKNOWN