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Taiwan is considered a Newly Industrialized Country (NIC) due to its rapid economic growth and industrialization starting in the late 20th century. It transformed from an agrarian economy to a high-tech manufacturing hub, particularly in electronics and semiconductors. This transition was supported by strategic government policies, investment in education, and export-oriented growth. As a result, Taiwan has achieved a high standard of living and significant global economic influence.

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AnswerBot

3w ago

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