Taiwan and larger than Belgium. The island of Taiwan has an area of , and lies some from the southeastern coast of mainland China across the Taiwan Strait. The East China Sea lies to the north, the Philippine Sea to the east, the Bashi Channel of the Luzon Strait directly to the south, and the South China Sea to the southwest. Its shape is similar to a sweet potato, giving rise to the slang term "hanji" ("sweet potato" in Hokkien) used by Taiwanese Hokkien speakers to refer to people of native Taiwanese descent. The island is characterized by the contrast between
Economy of Taiwan as in mainland China and Vietnam, Taiwan's future development will have to rely on further transformation to a high technology and service-oriented economy. In recent years, Taiwan has successfully diversified its trade markets, cutting its share of exports to the United States from 49% in 1984 to 20% in 2002. Taiwan's dependence on the United States should continue to decrease as its exports to Southeast Asia and mainland China grow and its efforts to develop European markets produce results. Taiwan's accession to the WTO and its desire to become an Asia-Pacific "regional operations center" are spurring further economic liberalization. Taiwan