The Rise and Fall of Taiwan's Currency Crisis

Taiwan never recovered from the Asia financial crisis, which is a bit of an ironic thing because China wasn't Taiwan wasn't at the epicenter of the Asian financial crisis. And I think it's also that, you know, Taiwan didn't want their currency to appreciate relative to China. They've maintained an undervaluation not only against the US dollar, but in many ways against the Yuan. But they actually have the opposite financial risks of a typical emerging market,. A typical emerging market borrows and dollars and gets clobbered if their currency depreciates against the dollar.