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<p>The Republic of China's exports account for somewhere between 45 and 60% of its GDP. The Republic of China has maintained very high foreign currency reserves. The United States Government has accused the central bank of manipulating its currency by keeping it artificially low to protect the ROC's domestic markets. In recent times the NT$ has appreciated against the U.S. dollar from 40 to one in 1986 to 26 to one in 1990. The objective of this research is to study the financial statements of the export industries and examine selected financial ratios to answer two questions. Question 1: Has the export industry conditions significantly change during the appreciation of the NT$ from 1986 to 1993? Question 2: Was the financial condition of the export industry related to the stability of the NT$? More specifically, was the financial condition of the export industry more stable during the 1990-1993 period than during the 1986-1989.
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<br>Subjects:</div>
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Lai, Hsuan-Hsien</div>
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