Taiwan doesn't have its own natural resources, so as to import all the raw materials from the foreign countries. If the importers do not import the raw materials, iron, aluminum, copper, and so on, the exporters cannot manufacture and export their products. When the NTD exchange rate is devaluating, the importers must pay higher prices to get the raw materials. After the extra processes, the raw materials become many fundamental members or components to provide the exporters to manufacture their products. Compared with the NTD devaluation, the present overall cost for the exporters shall be higher than that time. Hence, I don't think the NTD devaluation for the exporters is a good economic policy. The best NTD policy shall be according to the currency requirement, and the revaluation or devaluation speed CANNOT be fast too much.
Reference
Reference
- 高照芬（2012.10.25）駁張忠謀 央行：台幣相對穩定，中央社，http://news.chinatimes.com/politics/130502/132012102501487.html
