On July 28, Chinese financial supervisory agencies made a surprise raid on Taiwanese bank branch offices in China for "illegally attracting business without the necessary licenses." The banks must be condemned for also breaking Taiwanese law by engaging in financial business in China. They are just like rats that, in their greed, bite through a food bag and spill all its contents out on the floor. They have increased the nation's capital outflow. Taiwan's Financial Supervisory Commission (FSC) should take action and punish them severely.
Ever since Chinese Premier Wen Jiabao (
In fact, Taiwan's economy has smoothly been transformed from a handicraft, mechanical and automated industry to the digital age. Taiwan has developed into a leading player in the electronics industry, and is rapidly developing in areas of precision technologies. Taiwan has already won a leading international role as a manufacturer of computers, digital cameras and other advanced products, a clear indication that it has already developed an excellent knowledge-based environment that is ideal for research and development. In addition, development within traditional industries, brand creation and developing sales channels has proved very successful in consolidating traditional industries in Taiwan. Giant, Taiwan's bicycle manufacturer, and La New, a shoe manufacturer, are outstanding examples of this process. It is clear from this that if only the director of the enterprise operates effectively, there is no reason why Taiwanese products cannot be sold all over the world.
Taiwan Thinktank chairman Chen Po-chih (陳博志) said in a recent publication that Taiwan's experience of economic development is similar to that of Switzerland and Finland. Many of the problems those two countries faced were the result of having vastly more powerful neighbors. But as long as they could navigate international trends, and worked hard at upgrading their industries and developing a "knowledge economy," they could still become highly competitive commercial nations with a high standard of living. Taiwan's economic development has never relied on China, and there is no reason why it should start now.
China bedazzled Taiwanese businesses with its cheap land and labor, as well as its vast domestic market. These advantages, however, are disappearing as it moves into a new stage of development. Taiwanese businesspeople cannot safely and steadily promote their business in China due to slack law enforcement and various political factors. Beijing's recent moves to put down "green" businesses provide such an example. Thus, the unexpected management costs are getting higher when investing in China.
The successful stories of many traditional businesses in Taiwan show that restructuring and innovation are key to maintaining a successful business. Since Taiwan has developed a sound investment environment, Taiwanese businesses should follow such a trend, returning to Taiwan like mature salmon returning to their spawning grounds. Placing their priority in upgrading their businesses, they should beware of being misled by malicious banks and digging a hole from which they can not escape.
As strategic tensions escalate across the vast Indo-Pacific region, Taiwan has emerged as more than a potential flashpoint. It is the fulcrum upon which the credibility of the evolving American-led strategy of integrated deterrence now rests. How the US and regional powers like Japan respond to Taiwan’s defense, and how credible the deterrent against Chinese aggression proves to be, will profoundly shape the Indo-Pacific security architecture for years to come. A successful defense of Taiwan through strengthened deterrence in the Indo-Pacific would enhance the credibility of the US-led alliance system and underpin America’s global preeminence, while a failure of integrated deterrence would
The Executive Yuan recently revised a page of its Web site on ethnic groups in Taiwan, replacing the term “Han” (漢族) with “the rest of the population.” The page, which was updated on March 24, describes the composition of Taiwan’s registered households as indigenous (2.5 percent), foreign origin (1.2 percent) and the rest of the population (96.2 percent). The change was picked up by a social media user and amplified by local media, sparking heated discussion over the weekend. The pan-blue and pro-China camp called it a politically motivated desinicization attempt to obscure the Han Chinese ethnicity of most Taiwanese.
On Wednesday last week, the Rossiyskaya Gazeta published an article by Chinese President Xi Jinping (習近平) asserting the People’s Republic of China’s (PRC) territorial claim over Taiwan effective 1945, predicated upon instruments such as the 1943 Cairo Declaration and the 1945 Potsdam Proclamation. The article further contended that this de jure and de facto status was subsequently reaffirmed by UN General Assembly Resolution 2758 of 1971. The Ministry of Foreign Affairs promptly issued a statement categorically repudiating these assertions. In addition to the reasons put forward by the ministry, I believe that China’s assertions are open to questions in international
The Legislative Yuan passed an amendment on Friday last week to add four national holidays and make Workers’ Day a national holiday for all sectors — a move referred to as “four plus one.” The Chinese Nationalist Party (KMT) and the Taiwan People’s Party (TPP), who used their combined legislative majority to push the bill through its third reading, claim the holidays were chosen based on their inherent significance and social relevance. However, in passing the amendment, they have stuck to the traditional mindset of taking a holiday just for the sake of it, failing to make good use of
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