When I first covered Taiwan in the 1980s for The New York Times, it was a dictatorship under martial law, cracking down on dissent and imprisoning dissidents. The per capita income was only $4,000, and the government once tried to bribe me to give friendly help.
Now the world is upside down. Taiwan is today more democratic than the United States, according to the democracy index published by the Economist Intelligence Unit. Similarly, Freedom House ranks Taiwan as freer than the United States.
In addition, Taiwan is a rich technological marvel: Robots help in restaurants, and its citizens enjoy a higher per capita income than the Japanese. Because Taiwan produces more than 90% of the world’s most advanced computers, it may be the single most important center in the world economy.
Similarly, in my first visit to Vietnam in 1989, the income per person was about 100 dollars, and in one hotel my wife and I stayed in (one of the best hotels in Hue city), rats fell like rain on the ceiling of our room.
Last month at my Sheraton hotel in Vietnam, where the per capita income is now about $5,000, there was no rat rain. Buildings line city streets, reflecting an 8 percent economic growth rate, among the highest in the world, and a stock market that is up 37 percent over the past year in dollars. Life expectancy in Ho Chi Minh City is 77 years, longer than other US states.
Thus it traverses a large part of Asia, transformed at an astonishing speed. Some Asian countries have managed to double their economies in less than ten years. The Organization for Economic Cooperation and Development says that emerging economies in Asia (including China, India, Indonesia, Vietnam and others) contributed more to global economic growth last year than the rest of the world combined, and will do so again in 2026.
I was able to spend most of my career as an Asia watcher precisely because it was so insignificant in the 1980s that the Times didn’t care to send a young reporter there as a correspondent. This region has been changing so rapidly in recent years that, to borrow from Heraclitus, you cannot enter the same Asia twice. (Actually, that’s not entirely true: Sadly, you can repeatedly enter the same Myanmar and the same North Korea.)