ulting in negative carry to the TWD. This has led it to regularly be seen as a regional funder carry trades. A recent improvement in ties with the Mainland has led to several initiatives to facilitate cross-border investment and direct conversion of RMB into TWD at licensed institutions. In 2013,

bout how foreign investment, educational or security cooperation might mesh together like gears of friendly progress. It’s hard to do business in the Mainland. The military grows with astonishing speed. Domestic habits of smash-mouth competition rattle at more sedate Western habits. Any element of China’s a