Taiwan’s central bank, unlike most central banks, doesn’t disclose its position in FX derivatives. It really should. There is good reason to think its undisclosed exposure is quite substantial.   …

The World Health Assembly (WHA), the executive body of the World Health Organization (WHO), will convene on May 23-28 in Geneva. While member states have received invitations to participate in this y…

Policymakers are increasingly concerned by the U.S.’s dependence on Taiwanese semiconductors. Is onshoring their production to the U.S.—a goal of the CHIPS and Science Act—a practical path forward? 

Korea didn’t stop the won from appreciating through 1090 (its intervention level in 2016); Taiwan seems to be blocking any move through 30.

There is no need for the Treasury to put out its foreign exchange report on time this April. There are other, more pressing priorities. And if it does, the Treasury should exercise its discretion to …