Home World Tsai Ing-wen praises Taiwan’s economy for “returning to the top of Asia’s four little dragons” scholars worry about K-shaped growth-BBC News

Tsai Ing-wen praises Taiwan’s economy for “returning to the top of Asia’s four little dragons” scholars worry about K-shaped growth-BBC News

by admin

Image source,Reuters

Taiwan’s President Tsai Ing-wen has publicly stated a few days ago that Taiwan’s economic performance is “returning to the top of the four dragons in Asia”. This argument attracted attention again in Taiwanese public opinion.

Tsai Ing-wen mentioned in the Double Ten’s speech that in the face of global economic changes, Taiwan has embarked on a new economic route that no longer relies on a single market.

The “Four Little Dragons in Asia” refer to the four rapidly developing economies in Asia from the late 1960s to the 1990s: South Korea, Taiwan, Hong Kong and Singapore. After the Asian financial turmoil in 1997, with the development and changes of the international economic situation, this term has been seldom used. From the perspective of GDP per capita in 2020, the four Asian tigers have all entered the list of developed economies.

According to statistics from Taiwan’s Executive Yuan, Taiwan’s economic growth rate was 8.31% in the first half of 2021, higher than Hong Kong’s 7.8%, Singapore’s 7.7% and South Korea’s 3.9%. Taiwan’s Executive Yuan estimates that Taiwan’s total economic growth rate this year is 5.88%, which has a chance to break through 6, and it has become the top economic growth rate of the four Asian Tigers for two consecutive years.

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