Since travel has become easier, more Chinese people have immigrated to Taiwan. My focus has been on economics but that isn’t the only area Taiwan has been affected by globalization. It also makes a positive impact for Taiwan by bringing it closer to other countries. Joining the World Trade Organization (WTO) is very important because many countries, both developed and developing, are members. This is an example of globalization making a positive impact because the economic growth was caused by trade.Īnother example is Taiwan’s involvement in the World Trade Organization. This marks a tremendous amount of growth since 1992. In 1992, their real per capita was over $10,000 less than it is today. It is also the 6th richest country in Asia. Many countries have been positively impacted by globalization it is what spurred economic growth in several countries, including Taiwan.Īccording to an article published in 2014 on Brooking Institution’s website, Taiwan was the 19th largest trader in the world even though it had only the 28th largest economy in the world. These interactions are reflected in artwork, population migration, linguistic changes, and especially trade. This has been made possible due to the decreasing cost for travel and shipping as well as decreasing tariffs and regulations on international trade. Globalization is a way to describe increasing global interactions.
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