Spencer White
Spencer White
Spencer Whiteis a former professional Australian rules footballer who played for St Kilda Football Club in the Australian Football League. White was selected by St Kilda with pick 25 in the 2012 AFL Draft from the Western Jets in the TAC Cup. He is a tall, mobile, key position forward...
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There's been a heady combination of post crisis balance sheet repair, cash flow generation, fund flows from overseas and the growth that the region has generated as major economies such as China and India have 'emerged' whilst previously sunken ones like Japan have risen from the depths.
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Less than 5 percent of the population is using banking services. The growth opportunities for mortgages, car loans, consumer loans, are huge.
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President Chen's latest policy initiative will only increase cross-Strait tensions. The tax season approaches and this will draw liquidity away as retail investors sell.
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The conditions are in place to make this a compelling upgrade.
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Our sense is that expectations are now so depressed that we are likely to see more upgrades than downgrades from this level. It has not been such good value since 2003.
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If China gets into WTO first, Taiwan should quickly follow in China's wake. Probably within a month... as after this period China will gain voting rights.