Shaping the Overall Outlook of the Country - Case Study Example

The paper "Shaping the Overall Outlook of the Country" is a perfect example of a Micro and Macroeconomics Case Study. Taiwan is a country which is growing and presents a continuous demand for a different type of products. People are looking towards products which help them to keep fit and are thereby searching for different products. Dumbbell is an option which will help people to build their bodies as it is used in weight training and will help people to be thereby fit. The reason for choosing Taiwan is that people are looking towards products that are fitter and want to deal with obesity. This provides a good example and opportunity as marketing the product in Taiwan increases its opportunity to be successful and will thereby have a major role in shaping the overall outlook of the country.

Political Environment

History: Taiwan is officially called the Republic of China and is a sovereign state in the East of Asia. Taipei is the capital of Taiwan and the language which is spoken in the country is Chinese. The state was formed in 1912 and has adopted the constitution which was framed in 1947.

Government: The present form of government is the unitary semi-presidential constitutional republic

Legal System: The country has a legal system in place which determines the different laws, rules, and regulations and ensures that all abide by the legal requirements.

Stability: The government is stable and looks towards having policies that are aimed towards ensuring that the entire economy productivity increases.

Trade Barriers: There is a certain degree of trade barrier with regard to industries that are weak as the government looks to protect them but on the whole, the policies are open and look to indulge in trade relations with other countries.

Level of Corruption: There is a certain degree of corruption but the level is low and with stringent laws, corruption is bound to decrease further.

Geography

Taiwan is located in the East of Asia and has China on its west, Japan on the east and northeast and Philippines on the south. The entire region is surrounded by sea on all sides. The country has hills, plains and even waterways in the entire terrain. As the area is surrounded by sea from all the side it has ports which are used as one of the major media for business purposes. In addition to the waterways, the country has airways with flights to all major countries. The infrastructure of the country has rail and roadways to ensure that people can commute from one place to another.

Population

Te population of Taiwan is 23,273,517 people with a population density of 644 square kilometers. The country has people from all age groups but the majority of the people are young. Further, the country has a good proportion of both males and female counterpart which has helped them to develop their economy in a better way. The education level for people is high as special impetus has been given on education which has helped the economy to grow. Further, the country denotes ethnic diversity as 95 percent of the people are Han Chinese and 2.3% are around Aborigines. Further, the Han Chinese population consists of Hokkien, Hakka, and Waishengren diversities.

Cultural

The major language which people speak is Standard Chinese and Buddhism is the major religion which is followed by many. Despite having diversity the people are from more or less similar cultural backgrounds which has helped to ensure that people are free to mix with one another and has thereby shaped their mechanism of carrying out different roles and responsibilities.

Economy

Taiwan is still at the developing stage and the economy is slowly shaping up. The GDP of the country is $1021.607 billion whereas the per capita GDP is $43,559. A look at the nominal GDP shows it to be $505.452 billion and the per capita GDP at a nominal rate to be $21,571. The GINI of Taiwan is 34.2 which is considered as a medium one. The country aggressively engages in exports and imports and it stands at a total of US$274.64 billion and US$251.4 billion, respectively. The currency which is used in the country is the New Taiwan Dollar. The value of the 1 Taiwan Dollar currency with regard to US dollars is 0.03215 and with regard to Euro is 0.029856.