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The Republic of China was the first democratic nation in Asia. After various elections and changes in the ruling party, democratic policies and national development still continue their smooth progress. Both are moving ahead, steadily spurring the achievement of further milestones and models in democratization. The 2004 World Freedom assessment report said that Taiwan is already a free country with “first-class freedom for citizens.” Under Taiwan's comprehensive and well-reasoned legal system, ample consultative resources, and enlightened system and mechanisms of public participation, businesses are guaranteed that a rational, fair system will be in operation to protect them.
Over the past several decades, Taiwan's promotion of various economic development projects has created what the world commonly refers to as the “Taiwan Economic Miracle.” In recent years, due to the advent of globalization, Taipei has integrated the advantages of the existing third industrial sector to put muscle behind the establishment of a fair and open investment environment. This has created a place where a free economy is respected and a flourishing market is in full operation and has moved Taiwan toward a position as an Asia-Pacific Operations Center.
In terms of the flow of information, a 2004 survey by Freedom House held that Taiwan enjoys the world's best freedom of the press. Broadcast media have developed vigorously, and transparent, free transmission of information keeps Taipei in step with the world as well as drives the rich vitality and innovation of the people of the city.