At the turn of the century, thanks to globanlization, promoting English language learning has become a hot issue on the two sides of the Taiwan Strait. This paper, from the angle of human capital investment, has made a comparative study of the evolution of the policies, learning resources, and the reservoir of bilingual (English-Chinese) manpower on both Taiwan and the Chinese mainland over the past five decades. The analysis shows that although Taiwan is still superior to the Chinese mainland in terms of promoting English language learning, over the past decade it has ostensibly been losing its competitive advantage due to lack of efficiency in the implementation of manpower policy, particularly in the cultivation of bilingual skilled manpower. To keep its competitive advantage, Taiwan, in addition to continuing to promote English language learning, should all the more stress the enhancement of the English proficiency at home.