TAIWAN

Currency Curbs Taken: The Taipei government is taking steps to stem the growth in the value of its currency because of fears that the appreciation is hurting Taiwanese exporters. As the currency’s value rises, the goods made in Taiwan become more expensive worldwide. Taiwan’s central bank has been the target of increasing criticism since it became known last week that it had imposed a freeze on the inflow of foreign funds for investment in Taiwanese stock. The freeze, a temporary measure, was imposed to reduce upward pressure on the Taiwan dollar, which reached a record high earlier this month. The European Chamber of Commerce in Taiwan wrote to the island’s central bank last week expressing concern about the freeze. Analysts say Taiwan’s large trade surpluses and the central bank’s reluctance to cut interest rates have mainly been responsible for upward pressure on the dollar.