The financial crisis that started in South‐East Asia is still making its sweeping power felt by many countries. Interestingly, located in the middle of the turmoil, Taiwan seems to have fared better than most of its neighbours. The performance of Taiwan's financial markets has therefore attracted the attention of the international media. Among commonly asked questions, the one most frequently raised has been how Taiwan could have weathered the storm relatively unscathed. Many reasons have been given, such as a strong economic base, private businesses' desire to maintain a low debt ratio, liquid and efficient financial markets, carefully managed capital flow control and so on.
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