General Information

The Republic of China (or Taiwan as an island which makes up over 99% of the territory of the republic) is a partially recognized state in East Asia, which had one-party system, wide diplomatic recognition and control all over mainland China before.
Nowadays, it is a democratic state with a limited diplomatic recognition and control only over Taiwan and neighboring islands. Being one of the states which established the UN it was a member of the UN Security Council (in 1971 the PRC assumed China’s seat at the United Nations).
Total area is 35 980 km2, population is 23.782.448 people (2018). About 98% of Taiwan's population is of Han Chinese ethnicity, 2% is Taiwanese aborigines.
The official language Chinese, but the most population speaks the other dialects of Chinese – Chinese and Hakka. The languages of aborigines do not hold official status and they are gradually disappearing. Taiwan uses traditional Chinese characters.
The capital of Taiwan is Taipei.
National currency is New Taiwan Dollar (TWO). One US dollar is about 27.74 TWO.
The climate is subtropical in the north and tropical monsoon in the south. The amount of precipitation in the lowland part is 1.500—2.500 mm and more than 5.000 mm in the mountains. Typhoons are typical of August and September. It is a rainy season from June to august in Taiwan. The northern part of the island is cloudy through the year. In the south 90% of precipitation falls out during the rainy season.
Time difference with Moscow is +5 hours.
Literacy Rate is 98%.
Calling code is +886.

History

Throughout history thanks to its geographic position and rich natural resources Taiwan has always attracted invaders. In the 12th century it was officially included into mainland China’s territories as province Fujian what stimulated the process of island’s reclamation. From the late 16th – 17th centuries Portugal, Holland and Spain took turns in controlling Taiwan. In 1661 Taiwan became the part of China again. In 1895 the island was ceded to Japan. After World War Two Taiwan became a part of the Republic of China (ROC) which was established in 1911. Following the Chinese civil war, the Communist Party of China took full control of mainland China and founded the People's Republic of China (PRC) in 1949. The ROC with its head of state Chang Kaishek and Guomingdang party relocated its government to Taiwan, and its jurisdiction became limited to Taiwan and its surrounding islands. Since then till 1987 the island was in a military state which was introduced to fight separatism in Taiwan. The supremacy of one-party system is typical of this period. Guomindang was the only legal political party in the country, therefore economy, national administration and ideology were under its complete dictate. Due to preserved infrastructure after Japanese colonization and modernization measures taken by the Guomindang government in the 1960-70s Taiwan gradually developed into a prosperous industrial country and became one of the “Four Asian Tigers”. In the meantime domestic political climate was mitigated. In 1996 direct president election was introduced, and in 2000 for the first time in half a century opposition candidate of Democratic Progressive Party – Chen Shuibian was elected president. Meanwhile, ROC, or Taiwan, is still a partially recognized state, and most countries take the side of PRC considering Taiwan one of the provinces of PRC.

State Structure

The government of the Republic of China was founded on the Constitution of the ROC adopted on January,1, 1947. Form of government is presidential republic. Political regime is a democracy in a process of establishment. Since 1980s political system is being reorganized, the main steps are repeal of martial law and validation of opposition parties. Political system of Taiwan is distinguished by division in five administrative branches: executive, legislative, judicial, control and examination.
The main legislative body is the unicameral Legislative Yuan with 113 seats. Members serve four-year terms. It does not have authority over the president and cannot amend Constitution, but it still draws up laws, ratifies treaties and agreements, approves budgets, etc.
The executive branch is represented by the president and the Executive Yuan (the Government). The President is the head of state and commander-in-chief of the armed forces, who is elected by popular vote for a maximum 2 four-year terms on the same ticket as the vice –president. The president has a right to dissolve the Legislative Yuan and appoint the premier without the need for approval from the legislature. The president has authority over the Executive Yuan. The president appoints the members of the Executive Yuan as his cabinet, including a premier, who is officially the President of the Executive Yuan; members are responsible for policy and administration.
The judicial branch is represented by the Judicial Yuan. It interprets the constitution and other laws and decrees, judges administrative suits, and disciplines public functionaries. The president and vice-president of the Judicial Yuan and additional 15 justices form the Council of Grand Justices. They are nominated and appointed by the president, with the consent of the Legislative Yuan. The Supreme Court, High courts, district courts and Administrative court are subject to the Judicial Yuan. There is a separate system of military courts.

Economics

Taiwan has an advanced capitalist economy that ranks 22nd in the world in terms of GDP per capita (2019). Under martial law until 1987, real GDP growth averaged about 8% over the past three decades. Export rates increased after World War II, providing a major impetus for industrialization. Inflation and unemployment are low, the trade balance is large, foreign exchange reserves are the fourth largest in the world. Agriculture accounts for 3% of GDP, down from 35% in 1952, and the service sector makes up 73% of the economy.
Real GDP growth averages around 4% per year and has been stable over the past 30 years. Exports developed even more rapidly and provided the right conditions for holding
industrialization.
Taiwan's economy is an important component in the global value chain of the electronics industry. Radio components and personal computers are two major products of Taiwan's information technology industry. Unlike neighboring Japan and South Korea, SMEs make up a significant share of Taiwan's total business volume.
Taiwan is a member of the Asian Development Bank (ADB), the World Trade Organization (WTO), and the Asia-Pacific Economic Cooperation (APEC). Taiwan also has observer status with the Organization for Economic Co-operation and Development (OECD) under the name Chinese Taipei. Taiwan is a member of the International Chamber of Commerce, like Chinese Taipei.
There are over 40 Taiwanese banks operating in Taiwan. There are also 28 foreign banks with branches in Taipei. The Taiwanese banking sector is dominated by the Bank of Taiwan, which controls about 12% of the banking sector's total assets.

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