Judicial branch: Judicial Yuan (justices appointed by the president with consent of the National Assembly; note - beginning in 2003, justices will be appointed by the president with consent of the Legislative Yuan)
Political parties and leaders: Democratic Progressive Party or DPP [Frank Chang-ting HSIEH, chairman]; Kuomintang or KMT (Nationalist Party) [LIEN Chan, chairman]; People First Party or PFP [James Chu-yu SOONG, chairman]; Taiwan Solidarity Union or TSU [Chu-wen HUANG, chairman]; other minor parties
Political pressure groups and leaders: Taiwan independence movement, various business and environmental groups note: debate on Taiwan independence has become acceptable within the mainstream of domestic politics on Taiwan; political liberalization and the increased representation of opposition parties in Taiwan's legislature have opened public debate on the island's national identity; a broad popular consensus has developed that Taiwan currently enjoys de facto independence and - whatever the ultimate outcome regarding reunification or independence - that Taiwan's people must have the deciding voice; advocates of Taiwan independence oppose the stand that the island will eventually unify with mainland China; goals of the Taiwan independence movement include establishing a sovereign nation on Taiwan and entering the UN; other organizations supporting Taiwan independence include the World United Formosans for Independence and the Organization for Taiwan Nation Building
International organization participation: APEC, AsDB, BCIE, ICC, ICFTU,
IFRCS, IOC, WCL, WTrO
Diplomatic representation in the US: none; unofficial commercial and cultural relations with the people of the US are maintained through an unofficial instrumentality, the Taipei Economic and Cultural Representative Office (TECRO) in the US with headquarters in Taipei and field offices in Washington and 12 other US cities
Diplomatic representation from the US: none; unofficial commercial and cultural relations with the people on Taiwan are maintained through an unofficial instrumentality - the American Institute in Taiwan (AIT) - which has offices in the US and Taiwan; US office located at 1700 N. Moore St., Suite 1700, Arlington, VA 22209-1996, telephone: [1] (703) 525-8474, FAX: [1] (703) 841-1385); Taiwan offices located at #7 Lane 134, Hsin Yi Road, Section 3, Taipei, Taiwan, telephone: [886] (2) 2709-2000, FAX: [886] (2) 2702-7675; #2 Chung Cheng 3rd Road, 5th Floor, Kaohsiung, Taiwan, telephone: [886] (7) 224-0154 through 0157, FAX: [886] (7) 223-8237; and the American Trade Center, Room 3208 International Trade Building, Taipei World Trade Center, 333 Keelung Road Section 1, Taipei, Taiwan 10548, telephone: Flag description: red with a dark blue rectangle in the upper hoist-side corner bearing a white sun with 12 triangular rays
Economy Taiwan
Economy - overview: Taiwan has a dynamic capitalist economy with gradually decreasing guidance of investment and foreign trade by government authorities. In keeping with this trend, some large government-owned banks and industrial firms are being privatized. Real growth in GDP has averaged about 8% during the past three decades. Exports have provided the primary impetus for industrialization. The trade surplus is substantial, and foreign reserves are the world's third largest. Agriculture contributes 2% to GDP, down from 35% in 1952. Traditional labor-intensive industries are steadily being moved offshore and replaced with more capital- and technology-intensive industries. Taiwan has become a major investor in China, Thailand, Indonesia, the Philippines, Malaysia, and Vietnam; 50,000 Taiwanese businesses are established in China. Because of its conservative financial approach and its entrepreneurial strengths, Taiwan suffered little compared with many of its neighbors from the Asian financial crisis in 1998-99. The global economic downturn, however, combined with poor policy coordination by the new administration and increasing bad debts in the banking system, pushed Taiwan into recession in 2001, the first whole year of negative growth since 1947. Unemployment also reached a level not seen since the 1970s oil crisis.
GDP: purchasing power parity - $386 billion (2001 est.)
GDP - real growth rate: -2.2% (2001 est.)