Asia: Formosa: Success Story

Like ambitious moonlighters holding down two tough jobs, the Chinese of Formosa are trying to build up their precarious economy while maintaining one of the world's costliest military machines—600,000 armed men in a population of 11 million. To the surprise of Asia, the relief of the U.S., and the embarrassment of Red China, Formosa's economic effort is succeeding. So much so, in fact, that this week Howard Parsons, the new director on Formosa for the U.S. Agency for International Development, told the Taipei press: "Within a few years, Taiwan will be in a position to maintain a viable economy...

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