Taiwan is studying a bid to host a top meeting of Central America’s main regional bank, people with knowledge of the matter said, in its latest effort to break China’s diplomatic squeeze.
The nation is considering applying to host the 60th annual board meeting of the Central American Bank for Economic Integration (CABEI) next year, said the people, who asked not to be identified because the details have not been made public.
The bank is one of the few international organizations of which Taiwan is a full member under its official name, the Republic of China.
The lender is scheduled to decide on the host for next year at its board meeting in Argentina next month.
A decision to host the board meeting in Taiwan could prompt an angry response from China, which has increased pressure on countries and multinational companies to avoid any actions that could imply sovereign status for Taiwan.
The Chinese Communist Party views Taiwan as part of Chinese territory and routinely blocks its participation in most international organizations.
China has learned of Taiwan’s wish to host the meeting and is lobbying its allies in the region, including Cuba and Panama, to block the bid, people with knowledge of the matter said.
China is also in talks with members of CABEI to join the organization, with one of its main conditions being that the bank drop its recognition of Taiwan as a separate nation, the people said.
Taiwan, which holds a 10 percent stake in the bank, needs members holding at least two-thirds of the lender’s shares to support its proposal to host the meeting.
Another person said that the Ministry of Finance was close to deciding whether to officially submit a bid, but was uncertain whether Taiwan could muster sufficient support among the other members.
A bid would also need to be agreed to by President Tsai Ing-wen (蔡英文) and Premier Su Tseng-chang (蘇貞昌).
Latin American and Caribbean nations have long been a stronghold of diplomatic support for Taiwan, favoring official ties with the nation over China.
While four of the bank’s 13 other members officially recognize Taiwan, El Salvador, the Dominican Republic and Panama have switched recognition to Beijing since Tsai was elected in May 2016.
Minister of Finance Su Jain-rong (蘇建榮) represents Taiwan on the bank’s board.
A spokesman for the ministry declined to comment.
Taiwan, along with the likes of Argentina, Mexico and Spain, is one of six members of the bank from outside Central America and its only Asian member.
Taipei last hosted a board meeting in 1995.
CABEI is one of the supranational institutions able to issue bonds in Taiwan. Since 2014, it has issued approximately US$1.1 billion of notes.
Taiwan’s rapidly aging population is fueling a sharp increase in homes occupied solely by elderly people, a trend that is reshaping the nation’s housing market and social fabric, real-estate brokers said yesterday. About 850,000 residences were occupied by elderly people in the first quarter, including 655,000 that housed only one resident, the Ministry of the Interior said. The figures have nearly doubled from a decade earlier, Great Home Realty Co (大家房屋) said, as people aged 65 and older now make up 20.8 percent of the population. “The so-called silver tsunami represents more than just a demographic shift — it could fundamentally redefine the
Businesses across the global semiconductor supply chain are bracing themselves for disruptions from an escalating trade war, after China imposed curbs on rare earth mineral exports and the US responded with additional tariffs and restrictions on software sales to the Asian nation. China’s restrictions, the most targeted move yet to limit supplies of rare earth materials, represent the first major attempt by Beijing to exercise long-arm jurisdiction over foreign companies to target the semiconductor industry, threatening to stall the chips powering the artificial intelligence (AI) boom. They prompted US President Donald Trump on Friday to announce that he would impose an additional
China Airlines Ltd (CAL, 中華航空) said it expects peak season effects in the fourth quarter to continue to boost demand for passenger flights and cargo services, after reporting its second-highest-ever September sales on Monday. The carrier said it posted NT$15.88 billion (US$517 million) in consolidated sales last month, trailing only September last year’s NT$16.01 billion. Last month, CAL generated NT$8.77 billion from its passenger flights and NT$5.37 billion from cargo services, it said. In the first nine months of this year, the carrier posted NT$154.93 billion in cumulative sales, up 2.62 percent from a year earlier, marking the second-highest level for the January-September
Asian e-commerce giant Shein’s (希音) decision to set up shop in a historic Parisian department store has ruffled feathers in the fashion capital. Anger has been boiling since Shein announced last week that it would open its first permanent physical store next month at BHV Marais, an iconic building that has stood across from Paris City Hall since 1856. The move prompted some French brands to announce they would leave BHV Marais, but the department store had already been losing tenants over late payments. Aime cosmetics line cofounder Mathilde Lacombe, whose brand was among those that decided to leave following
RSS