The Shanghai-Taiwan connection.
The Financial Times published an interesting story today, suggesting that China is imitating Taiwan in its stockmarket lunacy.
The anecdotes related in the FT article are quite remarkable; I wish I could have seen it in person.
“Having taken 25 years to reach 1,000 in late 1986, the Taiwan Stock Exchange rocketed to 12,495 by February 1990. At the peak, some 10 per cent of its population were trading daily. People stayed away from work so they could spend time investing. On some days, market volume exceeded activity on the New York and Tokyo bourses combined.”
Amazing stuff.
Posted: June 7th, 2007 under Finance & Economics, Taiwan.
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