Taiwan’s GDP Growth Outpaces China’s for First Time in 30 Years

Taiwan’s economic growth outpaced that of China’s for the first time in 30 years, helped by its early control of the virus and stellar export performance.

Gross domestic product expanded 2.98% last year, official data showed Friday, compared with China’s 2.3% rise. Growth was also faster than the 2.55% median estimate in a Bloomberg survey of economists.

In 1990, Taiwan was a $166 billion economy dominated by exports of consumer electronics and plastic goods, while China had just opened its first McDonald’s restaurant, an early milestone in its reform and opening up that led to a generational shift ...