Geography of Taiwan Geography of Taiwan Taiwan, formerly known as Formosa, is an island in East Asia; located some off the southeastern coast of mainland China across the Taiwan Strait. It has an area of , which includes other nearby islands such as Penghu (). The East China Sea lies to the north, the Philippine Sea to the east, the Luzon Strait directly to the south and the South China Sea to the southwest. The island makes up 99% of the current territory of the Republic of China, which is also known as "Taiwan". Taiwan is a tilted fault block, characterized by the
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