Transformation efforts pay dividends for Taiwan

2016/03/04

Taiwan leads the world in fostering democratic change, economic development and good governance, according to the Transformation Index released Feb. 29 by Germany-based Bertelsmann Foundation.

On a scale of 1 to 10, Taiwan scored 9.53—the highest among all 129 countries and territories surveyed. It is followed by Estonia, the Czech Republic, Uruguay and Poland, while major regional competitors South Korea, Singapore and mainland China trailed at 11th, 25th and 84th, respectively.

Conducted biannually since 2006, the index measures how developing countries and territories, along with those in transition, steer social change toward democracy and a market-based economy.

Lauded as a high performer in terms of democratic politics and liberal market policies, Taiwan achieved a top-ranking score of 9.5 in the status component. The index also highlights the nation’s high degree of statehood, meaningful elections, stable democratic institutions and vibrant civil society, as well as the absence of undemocratic instruments.

Taiwan rated “developed” economically, notching up perfect scores in currency and price stability, private property and fiscal performance.

In the management component, which assesses government determination and consistency in pursuing a market-based democracy, Taiwan finished in the top three with a score of 9.1.

The index also assessed Taiwan as “very good” based on the criteria of consensus building, international cooperation, resource efficiency and steering capability.

Looking ahead, the index is bullish on Taiwan’s advances in international competitiveness and market-friendly politics given the increasing globalization of regional economy.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=242655&ctNode=2194&mp=9)