TAIWAN: Seeking to discourage capital flight, the...
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From Times Staff and Wire Reports
TAIWAN: Seeking to discourage capital flight, the Central Bank has reduced the amount that Taiwanese citizens can send overseas to $3 million from $5 million. The action was taken to ensure enough investment capital for the new national development plan. In the first three quarters of 1990, capital flight amounted to $10.2 billion, compared to $7.5 billion in all of 1989. Total overseas investment reached $7 billion in 1989, compared to $66 million in 1986, the Central Bank reported.
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