TY - JOUR
T1 - Revealing the causes and countermeasures against the decline in the quality of life in China and Taiwan
AU - Chang, Huan
AU - Tsao, Shou Min
PY - 2014
Y1 - 2014
N2 - In this study, we investigated the outcomes of Taiwan and China's long-term pursuit of current account surpluses, which has not enhanced the quality of life, but has resulted in excessive capital, thereby initiating inflation and the subsequent asset bubbles. It is argued that an increase in foreign-exchange reserves drastically reduces the quality of life (consumer confidence). Furthermore, the internationalization of China's currency (Renminbi) can help Taiwan and China escape the USD trap, prevent the asset bubble formation, and enhance the quality of life.
AB - In this study, we investigated the outcomes of Taiwan and China's long-term pursuit of current account surpluses, which has not enhanced the quality of life, but has resulted in excessive capital, thereby initiating inflation and the subsequent asset bubbles. It is argued that an increase in foreign-exchange reserves drastically reduces the quality of life (consumer confidence). Furthermore, the internationalization of China's currency (Renminbi) can help Taiwan and China escape the USD trap, prevent the asset bubble formation, and enhance the quality of life.
KW - Foreign-exchange reserves
KW - Internationalization of Chinese Renminbi
KW - Quality of life
KW - USD trap
UR - http://www.scopus.com/inward/record.url?scp=84930000012&partnerID=8YFLogxK
M3 - 期刊論文
AN - SCOPUS:84930000012
VL - 152
SP - 345
EP - 355
JO - Actual Problems of Economics
JF - Actual Problems of Economics
SN - 1993-6788
IS - 2
ER -