| Abstract | The shock waves of the Asian crisis have reached Taiwan in an attenuated form. By 21st April 1998 the Taiex index showed a fall of only 15% since its highest level 1997. In fact Taiwan seems to have recovered its balance: no massive depreciation of assets as in Southeast Asia or Korea, no rigidity in currency values -- which would create problems in the future -- as in Hong Kong or China. One can point to three important factors to explain this situation: the plurality of Taiwan's decision-making centres, its greater margin for financial manoeuvre, and its diversified trading relations. Even so, the present regain in confidence could be short-lived. Indeed since Taiwan's dynamism is essentially based on exports to countries in which economic activity is still vigorous, the tangible consequences of Asia's difficulties have still to make themselves felt in Taiwan. |
|---|
