Economic Review, Vol. 71 No. 2, 2020.
Review article
https://doi.org/10.32910/ep.71.2.4
HOW A TIGER BECAME A PUSSYCAT: A COMPARISON OF ECONOMIC DEVELOPMENT OF TAIWAN AND MAINLAND CHINA
Miljenko Antić
Abstract
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 efficient economic system than Taiwan. As a result, Mainland China became the world’s leading economic power in 2014 and it continues to have higher rates of growth than Taiwan.
Keywords
Taiwan; China; development; economic growth; privatization
Hrčak ID:
237376
URI
Publication date:
24.4.2020.
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