Fitch Ratings has affirmed Taiwan's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'AA' with a Stable Outlook. Taiwan's 'AA' rating reflects its large net external creditor position, record of prudent fiscal management, and its competitive business environment. These strengths are balanced by its complex and increasingly strained cross-strait relations, the economy's vulnerability to external shocks - particularly of its technology sector, and given its high degree of trade openness - and a relatively low GDP per capita relative to the 'AA' category peers. [....]