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Australia is an island continent located in the southern hemisphere It consists of two major islands with a surface area of 7 713 thousand square kilometers Australias official language is English and is currently governed by Prime Minister is John Howard Taiwan is an island that is located above the South China Sea and just off main land China It has an area of 26 thousand square kilometers with Taipei as its Capital Its official language is Mandarin and its President is Chen Shui-bian Australia is classified as a developed country ie it has high level of per capita income as it is mainly based on manufacturing and services and the people have a high standard of living It has a high per capita income of US 20 780 per annum recorded in 2000 GDP stands at a US 3981 billion with an annual growth rate of 23 in 2001 Australia has an unemployment rate of 7 recorded in 2002 and a relatively low inflation rate of 32 Australia has a slightly low export rate of 199 of GDP and an exchange rate of US 05281 per Australian dollar Taiwan is classified as a developing country as it has a low per capita income rate of US 12 916 and an economy largely base on manufacturing and the exporting of goods It has a GDP of US 2901 billion with a growth rate of 05 in 2001 It has a low unemployment rate of 43 in 2001 as most of the population is employed to increase production in the manufacturing industries It has high export rates of 546 of GDP and a low exchange rate of NT 1723 per Australian dollar Economic Growth Since Taiwans withdrawal from communist China in 1954 its economy has develop and grown rapidly It has moved from an agriculturally based economy of labour producing sugar canes and mushrooms to an industrial based economy of
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