Taiwan has avoided lockdown and has the fastest economic growth in Asia

Last year, Taiwan unexpectedly became the fastest growing Asian economy, with its economy strengthening more than China's economy for the first time in 30 years. According to the country's statistical office, Taiwan's gross domestic product rose by 2.98 percent in 2020. China's economy grew by 2.3 percent last year. The Taiwanese economy also outpaced Vietnam's economic growth, which strengthened by 2.9 percent. Some economists have predicted that Vietnam will be the fastest growing economy in Asia in 2020. The cnbc.com portal informs about it. Taiwan's strength in exports, especially semiconductor exports, helped its economy "comfortably compensate" for all the brakes of the pandemic in the second half of the year, said Angela Hsieh, an economist at Britain's Barclays Bank. Taiwan has managed to limit the spread of COVID-19, thanks to which its economy has avoided a severe lockdown. In the country, only 911 cases of the disease and eight deaths have been confirmed since the outbreak of the pandemic.