Steel: A Step at a Time

STEEL A Step at a Time Unlike many developing nations, which try to move from agrarianism to industrialization in one unrealistic leap, Taiwan's carefully programmed econo my has progressed a step at a time.

The system has paid off. Since 1952, its gross national product has risen at an annual rate of 8.5%, while per cap ita income has climbed 4.4% a year.

Now the island economy is preparing for its most ambitious single undertaking. In six months, construction will begin on a steel-producing complex at an estimated cost of $250 million.

The plan...

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