Taiwan's SWF plan proceeds despite opposition

Government plans to create a sovereign wealth fund in Taiwan are being met with considerable opposition. In two separate moves in recent days, it has been suggested that a sovereign wealth fund be created out of Taiwan’s central bank reserves, and that the nation’s four big public investment funds be managed under a sovereign fund ‘platform’. But the central bank has rejected a recommendation made to the government that its foreign exchange reserves, which total US$420 billion, …