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Almost everyone dream about being famous and popular. Most people would like to be admired and loved by others who surround them, but the price of fame is high. Let us consider advantages and disadvantages of being famous. To start with, celebrities are usually very wealthy people, who are able to allow themselves to have everything what they want.

As a consequence, they live In big, luxurious apartments and houses, spend their money on designer clothes, expensive cars and holidays in foreign countries.Secondly, celebrities’ fortunes let them do not worry about their future. Not only do they have a financial protection for themselves, but also for their families. In addition, the fame means being recognized by almost everyone. Therefore, If you are on top, you will appears everywhere – on TV, In magazines or commercials. It must be a fantastic feeling, when your fans ask you for an autograph or taking photo. However, fame has always been said to be very annoying.

Celebrities are deprived of rivalry and their lives are less intimate than average people, because curious fans want to know everything which is connected with their favorite idols. Famous people also must be very careful as paparazzi might take photo at the most unexpected moments. Moreover, popularity can be dangerous at times, because of feeling anxious for fanatical admirers or opponents, whose purpose is to hurt you. Consequently, famous people are always escorted by bodyguards.Finally, working to reach success is extremely time-consuming and celebrities do not have enough time or their common life, families or even themselves. As a result they are often exhausted, stressed and it can lead them to depression or another mental illness. On balance, being famous has both good and bad sides.

A fame is rather a hard task. It gives you a lot of various opportunities, makes your life easier and happier and improves conditions of living. At the same time it is tiring, annoying and dangerous and It means a constant life under pressure, which can turn your life from paradise Into disaster.

Taiwan Economy 4 TAIWAN ECONOMY By Name Course Professor University City/State Date

Taiwan Economy 4


By Name








Taiwan has undergone significant economic growth and industrialization decades after it was ranked among the least developed countries in the world during the early 1960s. The transformation of Taiwan has attracted the attention of economists in studying its economic model. This paper provides a work proposal meant to achieve the following objectives:

Discuss key triggers of Taiwan’s development and transformation.

Discuss the pursuit of Free Trade and Liberalization policy, citing the advantages that contributed to economic growth and development in Taiwan.

Discuss the theory of competitive advantages while focussing on key national competitive advantages in Taiwan that contribute to its economic development.

Plan of action

Many economists have written various articles explaining the factors that have caused significant growth and development in Taiwan economy. Significant research has been done on free trade liberalization policy and the impact it has on economies. I will use this information to meet my second objective. I have collected several articles and books on this subject. There are also many articles and books that are available in the library detailing the economy of Taiwan. This articles and books will provide sufficient information to successfully provide enough information to meet my objectives. The following paragraphs provide details on bow I will use my sources in my research.

The first objective of my research is discussing the main factors that triggered the development and transformations in Taiwan .In order to provide in depth understanding of the transformations undergone by Taiwan, I will explain the current state of the Taiwan economy. I will highlight major industries that drive the economy in Taiwan. Taiwan has gradually shifted from traditional labour intensive industries to capital intensive industries. The service sector contributes to 73% of the economy, while I will analyse this shift of focus in the industrialization sector over the years to provide a background of economic transformations that have taken place. I will rely on articles to meet my objective.

The second objective is to discuss the pursuit of free trade and liberalization policy in Taiwan and how it facilitated its economic growth and development. I will analyse economic opportunities that Taiwan has gained by making free trade agreements with several countries. In order to provide further information on the benefits of free trade agreements, I will discuss the opportunities missed by Taiwan for not being part of some trade agreements like the Trans Pacific Partnership will be discussed (Bellows, 2015).The responses of the government in promoting policies that favour the establishment of free trade agreements. I will outline major benefits that have contributed to the growth of theeconomy in Taiwan resulting to the establishment of various free trade agreements.

The third objective of this discussion is to discuss the theory of competitive advantage.In the discussion, key national competitive advantages of Taiwan that contribute to its economic growth will be highlighted. Taiwan ranking in the global competitiveness report will be analysed according to the various categories of current competitiveness index, company strategy and operations index,national business environment index and the competitive index of Taiwan relative to GDP per capita in relation to various standards will be discussed. I will rely on The Competitive Advantage of Taiwan(E. Porter, 2001) as the source of this information.

Any additional information that is required in this discussionwill be sourced from the library system. Selected information from various sources will be used to meet my objectives. These sources shall be clearly cited.


Bellows, T.J., 2015. The Trans-Pacific Partnership and Taiwan: Possibilities and Difficulties. American Journal of Chinese Studies, pp.115-127.

E. Porter, P. (2001). The Competitive Advantage of Taiwan.

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