Mon, Jun 09, 2003 - Page 11 News List

Keeping business at home will take more than cash

The SARS epidemic may have originated in China, but the virus does not appear to have affected China-bound investments from this country. Preston Chen, the chairman of Ho Tung Petrochemical Ltd and vice chairman of the of the Chinese National Federation of Industries, talked to `Taipei Times' staff reporter Joyce Huang last week about why businesspeople's `China fever' is difficult to cool down.

By Joyce Huang  /  STAFF REPORTER

As a businessman, I really think both sides should forsake whatever is on their political agenda -- independence or unification -- and foster economic ties so both countries can prosper. Neither independence nor unification is achievable in the near future. China has learned its lessons that pressuring Taiwan into accepting its doctrine can only do the opposite and nurture more independent-minded advocates. The lack of trust has hindered the cross-strait dialogue on the implementation of direct links.

Also, both sides have put too much energy into discussing trivial details such as whether air carriers should carry national flags. My guess is that both sides are using the implementation of direct links as a political bargaining chip, which sacrifices economic development. The business community believes that the direct-links issue should transcend political considerations and be looked at from the sole perspective of transportation since it helps save travel time.

But judging from the current cross-strait mood, I am pretty pessimistic that the direct links will be implemented during President Chen's tenure. Since the majority of Taiwanese support the links, if the president implements the links, it may actually help his re-election bid.

TT: To boost the economy, the government has come up with plans to allocate public spending for infrastructure projects, which some argued will increase the national debt. Do you think such economic solutions will successfully stimulate private investments?

Chen: We endorse the government's plans. We have long been urging the government to do just that. We believe each city and county should undertake one major public project, such as a mass rapid transit system, with the central government's allocated NT$300 billion for the next three years. If these projects can be implemented thoroughly, private investments are sure to follow.

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