The Rise of an Illegal Lottery and Its Consequences

Shortly after the Lunar New Year of 1990, the Taiwan Stock Exchange (the Taiex) hit a peak of almost 12,500. Eight months later it had fallen to a low of about 2,500 – an 80% collapse, and one of the worst stock market crashes of all time! In this week’s Taiwan history Formosa Files episode, we’re looking at the “Great Stock Market Bubble” of the late 1980s, when too many people had a lot more money than sense. Taiwan’s financial sector in the late 1980s was so crazy that the Republic of China (Taiwan) got a nickname: “the Republic of Casino”.

Links, pics and much more at formosafiles.com