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This is why I like the way Racket does this with the Pollen language. You can use Pollen mark up and create your own tags and then decide how they are converted. It all becomes a list of X-expressions that can be manipulated in any form you like. But the tree nature of an X-expression means you don’t get issues like *strong* word*.

For example I can write ◊bold{strong* word} and it becomes (bold “strong* word”). It’s very clear how this should be rendered.