U.S. immigration policy toward the People's Republic of China bloc. In February 1950, after months of hard bargaining, China and the Soviet Union signed the Treaty of Friendship, Alliance, and Mutual Assistance, valid until 1980. Many Americans were at a loss of what to do in regards to foreign policy concerning mainland China. The debate which took place in the United States as a result of the removal of the Kuomintang and Chiang Kai-shek to the island of Taiwan centered on Republican charges that the Democrats "lost" China. "Without question, the critics had by early 1949 convinced many Americans that Truman was, shockingly, abandoning China, China being equivalent with
Central Bank of the Republic of China (Taiwan) bank in 1961, the Bank of Taiwan acted as the "de facto" central bank in Taiwan. On 8 November 1979, the newly revised Central Bank of China Act was promulgated. The Bank of Taiwan issued the New Taiwan dollar until 2000, when the Central Bank of China finally took over the task. In 2000 the English name of the Central Bank of China was renamed Central Bank of the Republic of China (Taiwan) along with a host of other renamings under the Chen Shui-bian administration of state-owned corporations with "China" in their name, such as the Chunghwa Post. The headquarters