Central bank Governor Yang Chin-long (楊金龍) failed to secure a third consecutive top grade from the New York-based Global Finance magazine on Wednesday.
The magazine’s “Central Banker Report Cards 2021” gave Yang an “A-” grade, stopping a two-year streak of the top “A” grade in 2019 and last year after he took the position on Feb. 26, 2018.
The magazine said its “A” to “F grading is based on success in areas such as inflation control, economic growth goals, currency stability and interest rate management.
The magazine said that “A” represents an excellent performance, while “F” is for outright failure.
Yang was ranked on the same level as US Federal Reserve Chair Jerome Powell this year, the report showed.
Aside from Yang and Powell, Colombia’s Leonardo Villar Gomez, Georgia’s Koba Gvenetadze, Israel’s Amir Yaron, Malaysia’s Nor Shamsiah Mohd Yunus, Mexico’s Alejandro Diaz de Leon, New Zealand’s Adrian Orr, Paraguay’s Jose Cantero Sienra, Qatar’s Abdulla Bin Saoud Al Thani and South Africa’s Lesetja Kganyago also earned an “A-.”
Ranked above those 11 were 10 other central bankers who earned the top “A” grade, Global Finance said.
They are Brazil’s Roberto Campos Neto, Bulgaria’s Dimitar Radev, Canada’s Tiff Macklem, Chile’s Mario Marcel Cullell, China’s Yi Gang (易綱), the Czech Republic’s Jiri Rusnok, Egypt’s Tarek Amer, the EU’s Christine Lagarde, Kuwait’s Mohammad Yousef Al-Hashel and Morocco’s Abdellatif Jouahr.
The Central Banker Report Cards, published every year by Global Finance since 1994, graded the central bank governors of more than 100 countries and territories this year.
“With the [COVID-19] pandemic still surging in many areas, and inflation emerging as a major area of concern once again, the world’s central bankers are confronting multiple challenges from multiple directions,” Global Finance publisher and editorial director Joseph Giarraputo said in a statement.
“Global Finance’s annual Central Banker Report Cards show which financial policy leaders are succeeding in the face of adversity and which are falling behind,” Giarraputo added.
Yang has been working at Taiwan’s central bank since 1989, serving in its foreign exchange and economic research departments before his appointment as deputy governor in 2008.
His predecessor, Perng Fai-nan (彭懷南), has the distinction of being the only central banker in the world to have earned the top grade 14 times, gaining straight A’s from 2005 to 2017.
GROWING OWINGS: While Luxembourg and China swapped the top three spots, the US continued to be the largest exposure for Taiwan for the 41st consecutive quarter The US remained the largest debtor nation to Taiwan’s banking sector for the 41st consecutive quarter at the end of September, after local banks’ exposure to the US market rose more than 2 percent from three months earlier, the central bank said. Exposure to the US increased to US$198.896 billion, up US$4.026 billion, or 2.07 percent, from US$194.87 billion in the previous quarter, data released by the central bank showed on Friday. Of the increase, about US$1.4 billion came from banks’ investments in securitized products and interbank loans in the US, while another US$2.6 billion stemmed from trust assets, including mutual funds,
Micron Memory Taiwan Co (台灣美光), a subsidiary of US memorychip maker Micron Technology Inc, has been granted a NT$4.7 billion (US$149.5 million) subsidy under the Ministry of Economic Affairs A+ Corporate Innovation and R&D Enhancement program, the ministry said yesterday. The US memorychip maker’s program aims to back the development of high-performance and high-bandwidth memory chips with a total budget of NT$11.75 billion, the ministry said. Aside from the government funding, Micron is to inject the remaining investment of NT$7.06 billion as the company applied to participate the government’s Global Innovation Partnership Program to deepen technology cooperation, a ministry official told the
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s leading advanced chipmaker, officially began volume production of its 2-nanometer chips in the fourth quarter of this year, according to a recent update on the company’s Web site. The low-key announcement confirms that TSMC, the go-to chipmaker for artificial intelligence (AI) hardware providers Nvidia Corp and iPhone maker Apple Inc, met its original roadmap for the next-generation technology. Production is currently centered at Fab 22 in Kaohsiung, utilizing the company’s first-generation nanosheet transistor technology. The new architecture achieves “full-node strides in performance and power consumption,” TSMC said. The company described the 2nm process as
Even as the US is embarked on a bitter rivalry with China over the deployment of artificial intelligence (AI), Chinese technology is quietly making inroads into the US market. Despite considerable geopolitical tensions, Chinese open-source AI models are winning over a growing number of programmers and companies in the US. These are different from the closed generative AI models that have become household names — ChatGPT-maker OpenAI or Google’s Gemini — whose inner workings are fiercely protected. In contrast, “open” models offered by many Chinese rivals, from Alibaba (阿里巴巴) to DeepSeek (深度求索), allow programmers to customize parts of the software to suit their
RSS