Don't take the China bet
As Taiwan gambles with direct economic investment in China, cross-strait tension is intensifying, a state of affairs that Taiwan cannot afford in its current defensive position vis-a-vis China.
Taiwan cannot adopt a strategically offensive strategy to engage China through economic influence from its current position.
But Taiwan wishes to be part of the tide of direct investment and reap the economic benefits from doing so, as China opens up economically. For many people this tide may well be irresistible, but why would Taiwan also adopt such a strategy and thereby become increasingly and irrevocably committed to what is essentially a risky gamble?
Just because some will receive momentary profits by becoming cozy with Beijing does not mean that Taiwan can in any way profit by taking the same path. Yes, there are already major Taiwanese investments in China. But let's all be clear that these investments send alarming signals. One must remember that Taipei's most important defense is her isolation from China, along with the wisdom to clearly appreciate that fact.
Will Taiwan now persist in throwing away her best and only defense, for the sake of market profitability? Taiwan's strategy must be an integrated one and Taiwan must find a genuine balance between economics and national interest. This is a very hard game to play, as any fundamental error may cause you to loose your only home -- Taiwan. Does anyone in Taiwan doubt that fact?
Roger Petrol
Ashland, Oregon
Alternatives to retirement
In response to the two-tier retirement income scheme recently proposed by the employment panel of the Economic Develop-ment Advisory Conference, Hsu Chen-ming (許振明) and Huang I-ching (黃怡靜) presented a detailed analysis ("Responsibi-lity for pensions needs to be shared fairly," Aug. 27, page 8) as to how the fiduciary disciplines should be divided between the retirement income beneficiary and the plan sponsor who would be either the corporate employer or the government.
The proposed "additional annuity" system is a variant of the nationalized insurance system. Its purpose is to provide a supplemental retirement income to the beneficiary. Add-itional consideration is needed in other key areas: a funding method in accordance with actuarial principles and the plan's administration.
Creating such a new administrative agency will inevitably increase the size of the government at considerable cost. As an alternative approach for providing the supplemental retirement income, it is worth looking into private savings accounts which have built-in tax incentives, such as in a model in which all accrued interest in the account is tax-deferred; the contribution made by each eligible account holder, up to a maximum amount allowed annually, may be based on pre-tax or post-tax income, and the account must be managed by a reputable mutual fund certified by the government.
Ching H. Li
Jersey City, New Jersey
China's stance unwise
It is not particularly clever for China to insist that Taipei must recognize the "one China" principle before direct cross-strait trade links are implemented. ("China firm on conditions for cross-strait trade links," Page 1, Aug. 30). Anyone with common sense can see that the best way to solve the conflict is through economics.
To live well is everyone's aspiration. The people of Taiwan, if compelled to make a choice, would rather recognize one rich and free China than one barbarous and despotic China, one rejected even by the Chinese people themselves.
Ni Kuo-jung
Hsinchu City
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