History of the Republic of China its remaining islands in Fujian as vital for any future campaign to defeat the PRC and retake mainland China. On 3 September 1954, the First Taiwan Strait Crisis began when the PLA started shelling Quemoy and threatened to take the Dachen Islands. On 20 January 1955, the PLA took nearby Yijiangshan Island, with the entire ROC garrison of 720 troops killed or wounded defending the island. On January 24 of the same year, the United States Congress passed the Formosa Resolution authorizing the President to defend the ROC's offshore islands. The First Taiwan Straits crisis ended in March 1955 when
Economy of Taiwan new economic landscape, and as an island economy with lack of natural resources and comparatively lower domestic aggregate demand, Taiwan's highly educated human resources would contribute greatly to Value added Innovation management for expanding Taiwan's international trade. Taiwan has transformed itself from a recipient of U.S. aid in the 1950s and early 1960s to an aid donor and major foreign investor, with investments primarily centered in Asia. Private Taiwanese investment in mainland China is estimated to total in excess of US$150 billion, and official tallies cite Taiwan as having invested a comparable amount in Southeast Asia. Taiwan has historically benefited