China may use its stakes in Taiwanese companies or contracts for public construction projects to make Taiwanese firms subordinate to their Chinese counterparts and act as their agents in Taiwan. They may then be used to influence elections and policies and gradually gain political control of Taiwan.
Our reservations about Chinese investment are not just ideological.
Even the distinguished Japanese writer Kenichi Ohmae, known for his unending praise for China, has expressed similar doubts.
Interviewed recently by Taiwanese media, Ohmae trumpeted China’s economic virtues. When asked about Taiwan’s policy of opening up to Chinese investment, however, he expressed concern, warning that it would be unwise to allow unlimited Chinese investment.
It is clear enough, then, that allowing China to invest in Taiwan is like allowing a fox into a henhouse. If we want to ensure the survival of Taiwanese manufacturing, we should not allow Chinese investment at all.
Unfortunately the Ma administration has its mind set on opening the door to Chinese investment, and the legislature offers almost nothing to stop it. Only now has the Organic Laws and Statutes Bureau spoken out, advising the government to amend the regulations governing cross-strait relations to limit Chinese investment. Even at this late stage, perhaps such limitations could reduce the harm done by Ma’s erroneous policies.
Considering the Ma administration’s near monopoly on power, the bureau is to be commended for its professionalism and courage in voicing opinions that challenge government policy.
Ma’s Cabinet has shown itself to be mediocre. It is barely competent to handle day-to-day affairs. When the global financial crisis struck last year, the government was so helpless it was embarrassing. No wonder its approval rates have plunged — from winning over half the votes in last year’s elections to today’s situation — where it has completely lost the public’s confidence.
If Ma were willing to face up to his failures, he could avoid doing great harm to the country. However, if he persists in trying to fool the public into believing that he can save Taiwan, he will be nothing more than a quack.
In opening Taiwan to Chinese investment and pushing for an ECFA, however, he is more like Pandora opening her legendary box. Rather than exorcising evil spirits, he is inviting the Chinese devil into Taiwan. With the Ma government on one side and the Chinese ogre on the other, Taiwanese are in a sticky situation indeed.
TRANSLATED BY JULIAN CLEGG
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