It is perhaps no coincidence that the Taipei District Prosecutor's Office chose to release its decision to formally indict first lady Wu Shu-jen (
President Chen Shui-bian (
Nevertheless, fears about the potential impact of the indictments on the economy and political stability could become a self-fulfilling prophecy. The moment of truth will come tomorrow morning.
The festive mood seen after the indictments were handed down was at least partially prompted by the realization of the strength of the nation's judicial system.
For those who have continued to refuse to accept investigators' findings in regards to the assassination attempt on the president and Vice President Annette Lu (
According to the indictment issued by prosecutor Eric Chen (陳瑞仁) on Friday, Chen and Wu embezzled approximately NT$15 million (US$455,500) from the State Affairs Fund allocated to the Presidential Office. The prosecutor found that, although portions of the fund were used for legitimate reasons, the fact that some receipts were borrowed from other people for reimbursement purposes constituted forgery.
From the very beginning, the president has not denied the use of borrowed receipts to obtain reimbursements from the State Affairs Fund. However, he claimed that the money from the fund was spent on legitimate foreign affairs and missions for which secrecy needed to be maintained, necessitating the use of the borrowed receipts.
After reading the indictment, it seems that Eric Chen is genuinely dealing with this case purely on the basis of evidence and standing by the letter of the law. For instance, whether the use of borrowed receipts to obtain reimbursement for money spent on legitimate secret missions constitutes criminal forgery was a topic of debate during the investigation.
No one denies that the law as written does not make an exception for secret missions. Thus, whether an exception should be made is not a legal question, but a political question. Hence, Eric Chen has followed the letter of the law and indicted the suspects for forgery instead of for illegally dipping into the State Affairs Fund.
Nevertheless, the public is more concerned with the illegal use of the fund than with the issue of borrowed receipts. If the president and first lady indeed spent the money for legitimate reasons ? as the president has repeatedly claimed -- he is due political forgiveness. Although the president may still have to face criminal prosecution for forgery, this is a matter of legal technicality and a blow that can be endured.
The prosecutor's investigation suggests that the president did not use the fund for the legitimate purposes that he has claimed, which is the real issue here. To be more precise, the prosecutor found that four out of the six secret missions for which the president had claimed reimbursement were non-existent.
After the indictment was released, the president reportedly called at least one meeting with Democratic Progressive Party leaders to explain that he did not feel at liberty to divulge much information about the secret missions, which caused the prosecutor to doubt the existence of the missions.
With so much at stake for the nation, President Chen must make his case. If he is telling the truth, he needs to provide proof immediately.
Reports about Elon Musk planning his own semiconductor fab have sparked anxiety, with some warning that Taiwan Semiconductor Manufacturing Co (TSMC) could lose key customers to vertical integration. A closer reading suggests a more measured conclusion: Musk is advancing a strategic vision of in-house chip manufacturing, but remains far from replacing the existing foundry ecosystem. For TSMC, the short-term impact is limited; the medium-term challenge lies in supply diversification and pricing pressure, only in the long term could it evolve into a structural threat. The clearest signal is Musk’s announcement that Tesla and SpaceX plan to develop a fab project dubbed “Terafab”
In late January, Taiwan’s first indigenous submarine, the Hai Kun (海鯤, or Narwhal), completed its first submerged dive, reaching a depth of roughly 50m during trials in the waters off Kaohsiung. By March, it had managed a fifth dive, still well short of the deep-water and endurance tests required before the navy could accept the vessel. The original delivery deadline of November last year passed months ago. CSBC Corp, Taiwan, the lead contractor, now targets June and the Ministry of National Defense is levying daily penalties for every day the submarine remains unfinished. The Hai Kun was supposed to be
Most schoolchildren learn that the circumference of the Earth is about 40,000km. They do not learn that the global economy depends on just 160 of those kilometers. Blocking two narrow waterways — the Strait of Hormuz and the Taiwan Strait — could send the economy back in time, if not to the Stone Age that US President Donald Trump has been threatening to bomb Iran back to, then at least to the mid-20th century, before the Rolling Stones first hit the airwaves. Over the past month and a half, Iran has turned the Strait of Hormuz, which is about 39km wide at
The ongoing Middle East crisis has reinforced an uncomfortable truth for Taiwan: In an increasingly interconnected and volatile world, distant wars rarely remain distant. What began as a regional confrontation between the US, Israel and Iran has evolved into a strategic shock wave reverberating far beyond the Persian Gulf. For Taiwan, the consequences are immediate, material and deeply unsettling. From Taipei’s perspective, the conflict has exposed two vulnerabilities — Taiwan’s dependence on imported energy and the risks created when Washington’s military attention is diverted. Together, they offer a preview of the pressures Taiwan might increasingly face in an era of overlapping geopolitical