Two paths to prosperity. (Taiwan, South Korea) From: The Economist (US) | Date: July 14, 1990 | COPYRIGHT 1990 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

This a happy story, even though it is about economics.

In 1950, the year after Chiang Kaishek's Nationalists fled China's victorious Communists for "temporary" exile on the island of Taiwan, the incomes of Taiwanese and of mainland Chinese were much the same. For the next four decades, Taiwan's real GNP grew at an average of 8.7% a year: enough to raise the island's GNP per person by 1989 to $7,500. Count in the large black economy and that could mean around $10,000, abo...

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