Taiwan (台灣; historically 大灣 / 台員 / 大員 / 台圓 / 大圓 / 台窩灣), also known as Formosa (福爾摩沙; from Portuguese (Ilha) Formosa, meaning "beautiful (island)", is an island located in East Asia between the South China Sea and the East China Sea off the southeastern coast of mainland China. Since the end of the World War II in 1945, the island group has been under the government of the Republic of China.
Separated from the Asian continent by the 180-kilometre-wide Taiwan Strait, the main island of the group is 394 kilometres (245 mi) long and 144 kilometres (89 mi) wide. To its northeast are the main islands of Japan, and the southern end of the Ryukyu Islands of Japan is directly to the east; the Philippines lie to its south. It spans across the Tropic of Cancer and consists of steep mountains, covered by tropical and subtropical vegetation. Other minor islands and islets of the group include the Pescadores, Green Island, and Orchid Island among others; as well as the Diaoyutai Islands which are controlled by Japan since the 1970s and known as the Senkaku-shotō.
Since the end of the World War II in 1945, the island group has been governed by the Republic of China. The island group is, however, claimed by the People's Republic of China (PRC), which was established in 1949 on mainland China displacing the ROC and considers itself the successor state to the ROC with the exception of Mongolia. Since the 1970s, ROC itself (which has been located only in Taiwan) is commonly known as "Taiwan".
Taiwan's rapid economic growth in the decades after World War II has transformed it into an advanced economy as one of the Four Asian Tigers. This economic rise is known as the Taiwan Miracle. It is categorized as an advanced economy by the IMF and high-income economy by the World Bank. Its technology industry plays a key role in the global economy. Taiwanese companies manufacture a large proportion of the world's consumer electronics, although most of them are made in their factories in mainland China.
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