Congratulations are in order for Taiwan, which is celebrating its 113th birthday this week. This small and flourishing island democracy is a testament to human courage and innovation. Taiwan’s success is hard-earned.

Consider the fact that Russia has numerous land borders and is 472 times larger in geographic size with a population of more than six times Taiwan’s. However, Russia’s economy is only 2.5 times larger than Taiwan’s. Why? Where Russia has trusted in autocratic kleptocracy and corruption, Taiwan has trusted in the capitalist rule of law. This trust has paid off in Taiwan’s world-leading semiconductor chip manufacturing and electronics industries. Trusting only what has worked in the past, however, won’t get Taiwan to its 120th birthday.