Over the last 30 years, Taiwan has achieved remarkable economic growth and prosperity. However, in today's global markets, goods made in Taiwan are becoming less competitive due to the flood of cheaper products from low-wage areas. The government has therefore devoted its efforts to elevating the technological level of domestic industries, encouraging higher value-added production, introducing advanced technology from abroad and, most of all, promoting the globalization of its economy. These initiatives seek to transform Taiwan from a mere producer of goods to a center of product design and development as well.
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