TAIWAN: Taiwan’s gross national product slipped to...

TAIWAN: Taiwan’s gross national product slipped to an eight-year low in 1990, a slide prompted by a crash in the stock market and drops in consumer spending and industrial production. GNP grew 5.29% in 1990, compared to 7.3% in 1989. The 1990 figure was the lowest growth rate since a 4.05% gain in 1982. The stock market began to slide last spring, with volume dropping 80% between the February, 1990, high and the October, 1990, low. Consumer demand in Taiwan began to weaken after the Aug. 2 Iraqi invasion of Kuwait.