|
|
Article: Global Investor: Ruchir Sharma; While a 4 percent growth rate might be acceptable for Taiwan's economy in ordinary times, it's not during the current bull run.
- Article from:
- Newsweek International
- Article date:
- July 23, 2007
CopyrightCOPYRIGHT 2007 Newsweek, Inc. All rights reserved. Any reuse, distribution or alteration without express written permission of Newsweek is prohibited. For permission: www.newsweek.com. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Ruchir Sharma (Sharma is head of emerging markets at Morgan Stanley Investment Management.)
The Fading Star of East Asia It is a sign of the boom times in Asia these days that Taiwan--which has a steady 4 percent economic-growth rate--is now worried that the world is passing it by. What would be strong numbers in ordinary times look weak in the current context. Taiwan's stock market has failed to match the Asian average for seven years. The island has been thrown into an existential crisis as a result.
Things were different a decade ago, when both Taiwan's economy and equities managed to avoid the turmoil of the Asian financial crisis. What's ...