Machine
Nation
Touted
as the sixth largest machine tools exporter, TAIWAN signals staying
power. The Machinist takes a closer look at its rich past, promising
future
The
history of Taiwan dates back many hundreds of years, beginning with
the first sighting by the Portuguese in the mid-sixteenth century, who
named it Ilha Formosa meaning ‘beautiful island’. The name Formosa stuck
for a long time and is still the one that is used by older people in
many western countries. Over the centuries, Taiwan has had many foreign
colonial rulers: the Dutch, Spanish, Chinese and Japanese. Taiwan’s
strategic position and natural beauty made it a valuable prize to be
fought over.
Looking
back Post World War II, Taiwan has groomed itself through hard work,
intensive economic development and rapid industrialisation, which has
dramatically transformed it into one of the world’s leading economies
– one of the famous four Asian economic dragons. Between 1962 and 1985,
Taiwan’s economy grew by an average of nearly 10 per cent annually.
The growth since then has also been steady and strong. The strength
of Taiwan’s foreign currency reserves (third in the world) means that
any regional or international economic fluctuations barely make an impact.
Road
ahead
Looking
to the future, the Taiwanese Government continues to place a major emphasis
on nurturing the natural entrepreneurial spirit of local export industries.
There are many incentives and awards for research and development together
with tireless governmental encouragement. The sentiment in Taiwan continues,
whether it be a street vendor or an industry mogul – it is one of “what
can we do next and how can we do it better”.
.......CONTD
