Second, even if the KMT actually put its assets into a trust, not many people believe the party will not intervene in the entrusted business or halt insider trading.
Third, if putting the party property in trust is the right move, why not do it right now?
Fourth, even if the above-mentioned problems didn't exist, then a trusteeship is just the first step in solving the problems of the party businesses.
Why can't a real "trust" completely solve the party's problem? Because the KMT's assets do not belong to the party. Evidence? Take one simple example: the KMT sold the Broadcasting Corporation of China (BCC,
Besides, ever since retrocession, the KMT has subsidized its party-run businesses from the government budget. Whenever one of them suffered big losses, the KMT immediately handed it off to the government and got the people to shoulder the deficits -- as happened with the Central News Agency and the BCC's overseas department.
What businesses did the KMT bring to Taiwan in 1949 after the civil war? What entitled it to the use of hundreds of billions of dollars worth of property?
Frankly speaking, I think Lien has shown courage by proposing to put the party's property in trust. We know there are many problems, but the first step is for the KMT to face the truth -- political parties should not engage in profit-making.
We don't want the trust to be turned into an excuse. Nor do people believe a trust is the final solution.
Chang Ching-hsi is a professor of economics at the National Taiwan University.
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