The Ministry of Transportation and Communications said it's studying alternatives to building a direct train line to the international airport, but lawmakers yesterday said that the stalled project is the latest example of how Taiwan is falling behind rival China.
After six years of negotiations, last week the ministry dropped a plan to have Evertransit International Development Corp (
The deal fell through after Evertransit failed to secure a syndicated loan of NT$55 billion from banks by the Dec. 31 deadline, as required by the ministry contract.
Securing the loan was the first of several steps needed to make the project a reality. The project requires NT$200 billion (US$5.75 billion) in financing and land acquisition.
Evertransit is a subsidiary of Ever Fortune Industrial Co (
But at a question-and-answer session held at the Legislative Yuan yesterday, the DDP's Chiu Yi-ying (
Both Chiu and Cheng said that the stalled project was an embarrassment to Taiwan because China is already testing the world's first commercially operated magnetic levitation or "maglev" train. The train, which links Shanghai's Putong airport and a commercial district, was built within 21 months, following a four-month feasibility study, they said.
In response, Minister of Transportation and Communications Lin Ling-san (
"If I were the transportation minister of China, the Shanghai maglev train would have been completed in one year," Lin said. "This is the price of democracy," he added.
Although Taiwanese are proud of their democracy, many also lament the nation's fierce political squabbling, lingering corruption and the long amount of time needed to build a consensus on major projects.
Some lawmakers said that the nation's democracy was being abused.
The minister responded by promising to come up with alternative plans to the transit project by next month.
The ministry so far has two backup plans -- to transform and extend the existing Taoyuan-Linkou train line into a transit line linking CKS airport to Taipei, or to build special lines from the airport to stations of the Taiwan high-speed railway now under construction, Lin said.
ELECTRONICS BOOST: A predicted surge in exports would likely be driven by ICT products, exports of which have soared 84.7 percent from a year earlier, DBS said DBS Bank Ltd (星展銀行) yesterday raised its GDP growth forecast for Taiwan this year to 4 percent from 3 percent, citing robust demand for artificial intelligence (AI)-related exports and accelerated shipment activity, which are expected to offset potential headwinds from US tariffs. “Our GDP growth forecast for 2025 is revised up to 4 percent from 3 percent to reflect front-loaded exports and strong AI demand,” Singapore-based DBS senior economist Ma Tieying (馬鐵英) said in an online briefing. Taiwan’s second-quarter performance beat expectations, with GDP growth likely surpassing 5 percent, driven by a 34.1 percent year-on-year increase in exports, Ma said, citing government
UNIFYING OPPOSITION: Numerous companies have registered complaints over the potential levies, bringing together rival automakers in voicing their reservations US President Donald Trump is readying plans for industry-specific tariffs to kick in alongside his country-by-country duties in two weeks, ramping up his push to reshape the US’ standing in the global trading system by penalizing purchases from abroad. Administration officials could release details of Trump’s planned 50 percent duty on copper in the days before they are set to take effect on Friday next week, a person familiar with the matter said. That is the same date Trump’s “reciprocal” levies on products from more than 100 nations are slated to begin. Trump on Tuesday said that he is likely to impose tariffs
HELPING HAND: Approving the sale of H20s could give China the edge it needs to capture market share and become the global standard, a US representative said The US President Donald Trump administration’s decision allowing Nvidia Corp to resume shipments of its H20 artificial intelligence (AI) chips to China risks bolstering Beijing’s military capabilities and expanding its capacity to compete with the US, the head of the US House Select Committee on Strategic Competition Between the United States and the Chinese Communist Party said. “The H20, which is a cost-effective and powerful AI inference chip, far surpasses China’s indigenous capability and would therefore provide a substantial increase to China’s AI development,” committee chairman John Moolenaar, a Michigan Republican, said on Friday in a letter to US Secretary of
‘REMARKABLE SHOWING’: The economy likely grew 5 percent in the first half of the year, although it would likely taper off significantly, TIER economist Gordon Sun said The Taiwan Institute of Economic Research (TIER) yesterday raised Taiwan’s GDP growth forecast for this year to 3.02 percent, citing robust export-driven expansion in the first half that is likely to give way to a notable slowdown later in the year as the front-loading of global shipments fades. The revised projection marks an upward adjustment of 0.11 percentage points from April’s estimate, driven by a surge in exports and corporate inventory buildup ahead of possible US tariff hikes, TIER economist Gordon Sun (孫明德) told a news conference in Taipei. Taiwan’s economy likely grew more than 5 percent in the first six months