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HONG KONG -- American International Group said Wednesday that it would sell its Taiwan life insurance business, Nan Shan Life, to a conglomerate in Taiwan for $2.16 billion, the latest asset sale by the U.S. insurance giant as it seeks to repay a U.S. taxpayer-financed rescue.
Adobe announced today that it has closed its Taiwan sales office.
In the space of a week the White House rattled the Chinese on its Taiwan policy, announced it was proceeding with a missile shield that China believes is intended to contain its nuclear arsenal, and suggested that carefully nurtured contacts with China's Army would be cut off.
It also uses taiwan.baidu.com for its Taiwan operations, although the site is currently offline.
In November, it unsealed charges against a Chinese state-owned business and its Taiwan partner for allegedly stealing trade secrets from the U.S.'s largest memory-chip maker, Micron Technology Inc.
That success has prompted its Taiwan rival to follow in its footsteps.
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Elpida Memory spiked by 30 yen (30 cents), or 6.5%, to 494 yen ($5.01), after it acquired control of its Taiwan-based joint venture DRAM manufacturer, Rexchip, from Taiwanese partner Powerchip Semiconductor.
China has repeatedly vowed to use force to prevent Taiwan actually declaring its independence, and to underline the point has amassed an arsenal of at least 500 missiles on its Taiwan-facing coast.
What's more, the performance of its Taiwan-listed shares reflect its success in the mainland.
(Its Taiwan-traded shares go for about ten times projected 2001 earnings, roughly half that market's average).
Yet the chairman's wealth has dipped from a year ago on a one-sixth decline in its Taiwan-traded shares amid a decline in the company's profit.
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