The Taiwan Miracle (Chinese: 臺灣奇蹟; pinyin: Táiwān Qíjī; Pe̍h-ōe-jī: Tâi-oân Kî-chek) or Taiwan Economic Miracle refers to Taiwan's rapid economic development to a developed, high-income country during the latter half of the twentieth century.
As it developed alongside South Korea, Singapore, and Hong Kong, Taiwan became known as one of the "Four Asian Tigers". Taiwan was the first developing country to adopt an export-oriented trade strategy after World War II.
Taiwan is a highly developed free-market economy. It is the 8th largest in Asia and 21st-largest in the world by purchasing power parity, allowing Taiwan to be included in the advanced economies group by the International Monetary Fund. Taiwan is notable for its rapid economic development from an agriculture-based society to an industrialized, high-income country. This economic growth has been described as the Taiwan Miracle. It is gauged in the high-income economies group by the World Bank. Taiwan is one of the leading producers of computer microchip and high-tech electronics.
Chen Cheng ([ʈʂʰə̌n ʈʂʰə̌ŋ]; Chinese: 陳誠; pinyin: Chén Chéng; January 4, 1898 – March 5, 1965), courtesy name Tsi-siou (辭修; Cíxiū), was a Mainland Chinese and Taiwanese politician, military leader, revolutionary, and well as the leader of Tsotanhui Clique. He is widely regarded as the chief architect of Taiwan's post-war land reform and economic modernization programs during the 1950s.
A close protégé of Chiang Kai-shek, Chen rose through the ranks of the National Revolutionary Army and played a major role as a senior commander during the Northern Expedition, the Warlord Era, the Second Sino-Japanese War, and the Chinese Civil War. Following the Kuomintang's retreat to Taiwan, Chen was appointed Governor of Taiwan, during which he declared martial law, and later served as Premier and Vice President. In these roles, he led Taiwan's land redistribution and industrial transformation throughout the 1950s and 1960s, reforms that scholars often identify as key precursors to the Taiwan Miracle. These programs were widely credited with curbing the spread of communism on the island and consolidating public support for the KMT regime.
Buddhism is one of the major religions of Taiwan. Taiwanese people predominantly practice Humanistic Buddhism, Confucian principles, Taoist traditions and local practices. Roles for religious specialists from both Buddhist and Taoist traditions exist on special occasions such as for childbirth and funerals. Of these, a smaller number identify more specifically with Chinese Buddhist teachings and institutions, without necessarily eschewing practices from other Asian traditions.
Following the Chinese Civil War, Buddhism experienced a rapid increase in popularity in Taiwan, attributed to Taiwan's economic miracle following the war and several major Buddhist organizations promoting modern values such as equality, freedom and reason, which was attractive to the country's growing middle class. Taiwanese Buddhist institutions are known for their involvement in secular society, including the providing of a number of public goods and services such as colleges, hospitals and disaster relief.