From Longman Dictionary of Contemporary EnglishTaiwanTai‧wan /ˌtaɪˈwɑːn/ an island off the southeast coast of China. Population: 23,299,716 (2014). Taiwan, which was formerly called Formosa, has experienced rapid economic development since the 1950s and has many factories. —Taiwanese /ˌtaɪwəˈniːz◂/ noun, adjective