Last, Taiwan made appropriate countermeasures and respected free-market financial mechanisms. Others factors are mild inflation rate, low unemployment rate, and the accumulation of foreign exchange reserves with almost no foreign debt. The Taiwan experience After the II world war, Taiwan adopted economic plans and policies which referred to some Western patters. In the end, it developed a unique pattern of Taiwan s economic development. Taiwan has been recognized worldwide for its economic miracle .
Outstanding manpower can contribute technology, labor management and capital accumulation.
Beside, labor-management relations and social status are smooth and stable. Social stability and harmonious industrial relations created a good investment environment for foreign corporations to invest in Taiwan. Under the arduous efforts of a hard working, high-quality labor force and an entrepreneurial spirit, Taiwan has successfully completed a rapid structural transformation, economic constructions and industrial transformation. The advancement in economic structure has led traditional agricultural and manufacturing industries to a way of scientific, high-technology and service industries. Therefore, many areas of Taiwan's economic development experience provide worthwhile examples for developing countries.