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===Economic issues=== One of Ma's promises as presidential candidate was called the "633 Plan", which promised [[Economic growth|economic growth rate]] of 6%, [[unemployment rate]] of less than 3%, and [[per capita income]] of more than [[United States dollar|US$]]30,000. However, the [[Great Recession]] around the world caused about 2,000 companies in Taiwan to go bankrupt in the six months following Ma's inauguration, according to a governmental commercial office in Taipei.<ref>{{cite news|title=民眾痛苦指數飆高|url=http://www.libertytimes.com.tw/2008/new/aug/30/today-taipei4-2.htm|newspaper=Liberty Times|language=zh|date=30 August 2008|access-date=6 September 2008|archive-date=9 March 2009|archive-url=https://web.archive.org/web/20090309152349/http://www.libertytimes.com.tw/2008/new/aug/30/today-taipei4-2.htm|url-status=live}}</ref> At the time, the high unemployment rate (~4.06% in July) and consumer price index<ref>{{cite news|script-title=zh:經濟成長率差一截 失業率、物價攀高// 馬633政見 嚴重跳票|url=http://www.libertytimes.com.tw/2008/new/aug/23/today-t1.htm|newspaper=Liberty Times|date=23 August 2008|language=zh|url-status=dead|archive-url=https://web.archive.org/web/20080908010309/http://www.libertytimes.com.tw/2008/new/aug/23/today-t1.htm|archive-date=8 September 2008}}</ref> three months after Ma's inauguration were unprecedented, having not been seen in 28 years.<ref>{{cite news|script-title=zh:百日成績 政院發文宣 綠營再撻伐|url=http://www.libertytimes.com.tw/2008/new/aug/29/today-p6-2.htm|newspaper=Liberty Times|date=29 August 2008|language=zh|url-status=dead|archive-url=https://web.archive.org/web/20080901011542/http://www.libertytimes.com.tw/2008/new/aug/29/today-p6-2.htm|archive-date=1 September 2008}}</ref> The [[Taiwan Stock Exchange]] also fell to two-year lows in September 2008.<ref>{{cite web|url=http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20080903%5cACQRTT200809032005RTTRADERUSEQUITY_1090.htm&&mypage=newsheadlines&title=Taiwan%20Market%20Starts%20At%20Two-Year%20Low|title=http|publisher=NASDAQ|access-date=12 March 2011|archive-url=https://web.archive.org/web/20110611045605/http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20080903%5cACQRTT200809032005RTTRADERUSEQUITY_1090.htm&&mypage=newsheadlines&title=Taiwan%20Market%20Starts%20At%20Two-Year%20Low|archive-date=11 June 2011|url-status=dead}}</ref> The [[Financial Times]] describes Taiwan's economic downturn as results from "downward pressure driven by global factors". Analysts also point out that, "during its first 100 days in office, the government has made a series of bold steps to deregulate economic cross-strait ties. But as these policies coincided with the global downturn and foreign investors had already bought Taiwan stocks heavily before the election, betting on the reforms, the island's market has seen a sell-off worse than the regional average."<ref>{{cite web|url=http://www.ft.com/cms/s/0/dbad0822-8029-11dd-99a9-000077b07658.html|title=/ Asia-Pacific – Taiwan stock market slides|work=Financial Times|location=London|date=11 September 2008|access-date=12 March 2011|archive-date=11 October 2022|archive-url=https://web.archive.org/web/20221011233551/https://www.ft.com/content/dbad0822-8029-11dd-99a9-000077b07658|url-status=live}}</ref> On 11 September 2008, Ma's cabinet unveiled a $5.6-billion USD ($180-billion TWD) economic stimulus package. Among the items of the package were infrastructure projects, economic incentives to small businesses, and other tax cuts. Stock transaction taxes were also halved for the next six months.<ref>{{cite web|last=Ong|first=Janet|url=https://www.bloomberg.com/apps/news?pid=20601080&sid=aAMp3a3FzKms|title=Taiwan to Spend NT$181 Billion on Economy, Stocks (Update3)|publisher=Bloomberg News|date=11 September 2008|access-date=12 March 2011}}</ref> Taiwan's government reported that the economy shrank by 1% in the third quarter and further contracted 8.36% in the last quarter of 2008.<ref>{{cite news|url=http://www.cnn.com/2009/BUSINESS/02/18/taiwan.economy.2008.q4/index.html|publisher=CNN|access-date=5 April 2010|title=Taiwanese economy slumps into recession|date=18 February 2009|archive-date=27 April 2009|archive-url=https://web.archive.org/web/20090427082936/http://www.cnn.com/2009/BUSINESS/02/18/taiwan.economy.2008.q4/index.html|url-status=live}}</ref> Although growth resumed in the fourth quarter of 2009, the economy still shrank by 1.87% for the year.<ref>{{cite web|url=https://www.cbc.gov.tw/public/Attachment/062811514671.PDF|title=Annual Report 2009|website=Central Bank of the Republic of China (Taiwan)|date=June 2010|access-date=6 May 2025}}</ref> In 2010, Taiwan's economy rebounded strongly, expanding by 10%.<ref>{{cite news|url=https://www.reuters.com/article/taiwan-economy-gdp/update-2-taiwan-trims-2012-gdp-forecast-after-q4-shrinkage-idUSL4E8CV2FX20120131|title=UPDATE 2-Taiwan trims 2012 GDP forecast after Q4 shrinkage|agency=[[Reuters]]|date=31 January 2012|access-date=29 March 2020|archive-date=29 March 2020|archive-url=https://web.archive.org/web/20200329055322/https://www.reuters.com/article/taiwan-economy-gdp/update-2-taiwan-trims-2012-gdp-forecast-after-q4-shrinkage-idUSL4E8CV2FX20120131|url-status=live}}</ref>
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