Taiwan’s Energy (In) Security: Challenges to Growth and Development

Abstract

Taiwan, especially after the ‘Taiwan miracle’ has had a meteoric rise, faster than any of its big neighbors, and is now considered among one of the most developed regions of the world. Yet not all is sheen and glory when the costs of development are added especially in energy terms and more so when 99 percent of it is imported from abroad. Taiwan lacks in almost all forms of energy apart from a smattering of coal and gas and is almost entirely dependent on imports for its energy needs. Also, Taiwan imports from the world’s most vulnerable regions. This leaves it in a precarious position as Taiwan’s growth rates are not only unsustainable but also threaten to collapse if it continues its dependence on imports. This naturally attracts it toward the renewable energy sector, especially nuclear energy. However, given the fact that the entire world is proceeding toward a ‘clean technology’ establishment, would Taiwan be able to race against the bigwigs, or will its energy scarcity bring it closer to its impending economic penury shall be discussed here.