It is a question that every developing country in the world wants to know: How can we upscale our economy? How can we make more competitive, technologically advanced product that everyone else wants?

The early 1970s gave the people of Taiwan such a challenge. Times were changing. The island needed to adapt in order to survive in a new world full of challenges. Its economy then was made up mostly of agricultural products and simple electronic assembly - exports of low value and would be easily replaced.  

In this video, I want to briefly review how the government created a world-class next-generation manufacturer, the plan they followed, and what lessons we can take away as a result.