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BUSINESS
March 12, 1996 | EVELYN IRITANI, TIMES STAFF WRITER
China's stepped-up military threats against Taiwan in the last week have led to a sharp increase in the transfer of money from Taiwan to Southern California banks, put transpacific business deals on hold and prompted a rush to book flights from Taiwan to the United States. "I think a lot of people are nervous," said Nannen Xu, a senior advisor at Far East National Bank in Los Angeles.
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BUSINESS
March 12, 1996 | EVELYN IRITANI, TIMES STAFF WRITER
China's stepped-up military threats against Taiwan in the last week have led to a sharp increase in the transfer of money from Taiwan to Southern California banks, put transpacific business deals on hold and prompted a rush to book flights from Taiwan to the United States. "I think a lot of people are nervous," said Nannen Xu, a senior advisor at Far East National Bank in Los Angeles.
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BUSINESS
August 7, 1995 | From Bloomberg Business News
Taiwan's financial system, rocked by two scandals last week, is braced for more trouble and a possible run on short-term debt this week. The main stock index of the Taiwan Stock Exchange on Saturday plunged 4.9% to a 19-month low of 4823.86 amid the possible threat to financial stability. The index has lost 32% this year in the worst performance among the world's stock markets.
BUSINESS
May 19, 1994
Taiwan, which in 1991 ended the nearly 43 years of emergency rule that had prevailed since Chiang Kai-shek's Kuomintang established a government opposed to the communist takeover of the mainland on the Formosa island in 1949, has also moved in recent years to restructure its economy, including decreasing protectionism, increasing foreign investment and allowing Taiwanese businesses to invest abroad. The economy is currently booming, as evident by a string of annual trade surpluses.
NEWS
November 30, 1997
A country-by-country look at the economic crisis that has swept Asia, and the challenges nations face in restoring growth. (Stock market and currency changes are since Jan. 1. Currency changes versus U.S. dollar). THAILAND * Currency decline: -36% * Stock market decline: -52% * Population: 60 million. During the export boom of the early-90s, Thai banks flush with cheap foreign capital lent heavily to domestic borrowers, fueling a real estate bubble. Imports surged.
OPINION
April 4, 1993 | JOEL KOTKIN and DAVID FRIEDMAN, Joel Kotkin, a contributing editor to Opinion, is a senior fellow at the Center for the New West and an international fellow at the Pepperdine University School of Business and Management. David Friedman, a Los Angeles attorney, is a visiting fellow in the MIT Japan program.
When the state economy recovers, who will own California? The investors who are snapping up the assets of insurance compa nies, savings and loans, banks and troubled Japanese speculators at prices far below their late-1980s highs recognize that the state economy, contrary to the crystallizing conventional wisdom, has tremendous long-term potential.
BUSINESS
January 25, 1998 | JAMES FLANIGAN
Taiwan is faring best of all the Asian countries in the current crisis. There is no International Monetary Fund emergency loan program needed for Taiwan's banks. Indeed, Taiwan's government, with $83 billion in foreign currency reserves, could lend the IMF a buck or two. The Taiwan dollar has fallen roughly 19% against the U.S. dollar, the lowest devaluation among convertible Asian currencies. Taiwan's industry is confident.
BUSINESS
September 3, 1997 | JAMES FLANIGAN
The 34-year history of Imperial Bancorp demonstrates how successful small businesses can be in Southern California. And the present expansion of Imperial and other banks in this region reflects the revival of Southern California's economy and how attractive it has become to investors from throughout the nation and the world. Founded in 1963 by a couple of shopping center developers who put together initial capital of $1.
BUSINESS
May 14, 1990 | NANCY YOSHIHARA, TIMES STAFF WRITER
Twice a month, She-Ying Chin Wang climbs aboard a jet in Taiwan bound for Los Angeles. Upon arrival, the wife of one of Taiwan's wealthiest and most influential business tycoons heads for Monterey Park to visit the headquarters of Omni Bank. She's no mere depositor. Mrs. Wang owns the bank with her husband, You-Theng Wang, chairman of the giant Rebar Group conglomerate in Taiwan, and their son.
BUSINESS
November 5, 1995 | EVELYN IRITANI, TIMES STAFF WRITER
By the time China's test missiles began exploding off the coast of Taiwan last July, the reverberations were already being felt thousands of miles away in Los Angeles' Chinese community. Bankers began getting transpacific phone calls from worried Taiwanese customers looking for advice on a safe place to stash their money. Small branches of Chinese community banks noticed an unexpected surge in funds being wired in from Taiwan and Hong Kong.
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