"When I began to cover Taiwan in the 1980s for The New York Times, it was a dictatorship under martial law, banning opposition parties and imprisoning dissidents. Per capita income was just $4,000, and the government once tried to bribe me to provide more friendly coverage. Now the world has turned upside down. Taiwan today is more democratic than the United States, according to the democracy index published by the Economist Intelligence Unit. Similarly, Freedom House lists Taiwan as freer than the United States."
"Likewise, on my first visit to Vietnam in 1989, its per capita income was about $100, and in one hotel my wife and I stayed at (one of the best in the city of Hue), rats fell like rain from the ceiling of our room. Last month at my Sheraton hotel in Vietnam, where per capita income is now about $5,000, there was no rat precipitation."
Taiwan transformed from a 1980s dictatorship under martial law with low per capita income into a wealthy, technologically advanced democracy now ranked freer than the United States by major indices. Taiwan produces over 90% of the world's most advanced computer chips, making it a pivotal hub for the global economy. Vietnam moved from extreme poverty in 1989 to about $5,000 per capita, rapid 8% growth, skyscraper-lined cities, and strong stock-market performance. Emerging Asian economies collectively contributed more to recent global growth than the rest of the world combined and are expected to do so again in 2026.
Read at www.mercurynews.com
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