Australia vs. Taiwan.

Essay by bz2000High School, 12th gradeA+, May 2003

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Australia is an island continent located in the southern hemisphere. It consists of two major islands with a surface area of 7, 713 thousand square kilometers. Australia's official language is English and is currently governed by Prime Minister is John Howard.

Taiwan is an island that is located above the South China Sea and just off main land China. It has an area of 26 thousand square kilometers with Taipei as its Capital. Its official language is Mandarin and its President is Chen Shui-bian.

Australia is classified as a developed country (i.e. it has high level of per capita income) as it is mainly based on manufacturing and services, and the people have a high standard of living. It has a high per capita income of US $20 780 per annum, recorded in 2000. GDP stands at a US $398.1 billion with an annual growth rate of 2.3% in 2001.

Australia has an unemployment rate of 7% recorded in 2002 and a relatively low inflation rate of 3.2%. Australia has a slightly low export rate of 19.9% of GDP, and an exchange rate of US $0.5281 per Australian dollar.

Taiwan is classified as a developing country as it has a low per capita income rate of US $12 916 and an economy largely base on manufacturing and the exporting of goods. It has a GDP of US $ 290.1 billion with a growth rate of 0.5% in 2001. It has a low unemployment rate of 4.3% in 2001 as most of the population is employed to increase production in the manufacturing industries. It has high export rates of 54.6% of GDP and a low exchange rate of NT $17.23 per Australian dollar.

Economic Growth:

Since Taiwan's withdrawal from communist China in 1954 its economy has develop and grown rapidly. It...