To what extent do you think the KMT had on Taiwan’s economic development?
- They played a very important role. Without KMT, Taiwan’s economic miracle would not have materialized
- Substantial, but not significant
- Minimal. It was the hard work of the Taiwanese that propelled Taiwan’s economic miracle.
- It was a combination of sound KMT fiscal and monetary policies, and the hard work of the Taiwanese
- None. The Japanese should be the ones who should receive the most credit by laying the foundations in the first place.
To what extent do you think the KMT had on Taiwan’s economic development from 1950-1987? And what impact do you think the KMT had on the nature of Taiwan’s economic framework today?
I am sure many opinions on this issue will be influenced by current-day politics (party bashing). But from an objective standpoint, do you think Taiwan would have reached “Four Economic Tigers” status without KMT governance?
What long-lasting effect did the land reform program of the 1950’s have on laying the foundations for Taiwan’s transition from an agricultural economy into an industrial one? The way I see it is that small farmers who accumulated land under the program were encouraged to become land-owning entrepreneurs whose wealth grew as land values appreciated over time. It boosted agricultural production because farmers are motivated to work harder on their own land than on rented landlord land.
In contrast to the humiliation and often executions of large landowners on the mainland during the Great Leap Forward, large landowners in Taiwan could keep their land up to a certain limit, but had to sell any portion of their land above that limit to the government. You can call that forced selling, but they did receive compensation in the form of bonds and stock certificates. Later these shares also appreciated, creating entrepreneurial capital for those who sold the shares 5-15 years later.
Taiwan’s economic output is generated mostly by SMEs. What was the KMT’s policy towards SME? Was it a hands-off laissez faire approach to them (let them do whatever they want) or did the KMT actively support/encourage these enterprises? I heard that the KMT mostly supported large state-owned companies.