May 20th 2000 to March 20th 2008, underpeform Korea by 120%On May 20th 2000, when Chen Shui Bian took over, TWII was 9120, Korea KOS 731, Hong Kong HSI 14478, Dow Jones 10627.
On Mar 19th, 2008, before the election, TWII was 8179, KOS 1622, HSI 21867, DJI 12100.
TWI underperformed all the benchmark markets, and fell by 10.3% while the closest benchmark(with similar industry mix, stage of economic development and market) KOS rose by 122%.
This is the price the people of Taiwan paid for the pursuit of ideology. (note also that the lag started to widen significantly in his second term -- sort of echoing my hypothesis in my previous post regarding long term accountability)
p.s. Some may argue that TWII also underperformed under the pragmatic Ma Ying-jeou. But it was not nearly as worse/significantly, albeit there had only been a few months and we need more data to test. TWII underperformed the benchmarks by 10-15% in the past 6 months
Mar 19 to Oct 9, 2008
Not really related: on a separate topic of the infamous Arms Procurement Deal, US Presidential Candidate McCain has offered his candid insight
- “These sales ... would help retain America’s edge in the production of advanced weaponry and represent a positive sign in these difficult economic times,”
It is just about the money. So no need to get too upset, Mr Hu, nor get too excited, those on the island.