Sun, Jan 04, 2015 - Page 8 News List

Sunflowers boosted the economy

By Huang Tien-lin 黃天麟

This shows that the extra 1.03 percent growth rate was the result of the Sunflower movement blocking the government’s economic policies, which would have negatively affected the economy.

A unified economic entity made up of Taiwan and China necessarily entails a magnetic effect between the center, China, and the periphery, Taiwan, and the poor performance of Taiwan’s economy has been a result of this process. Without this damaging policy, it is only natural that the nation recovers its former advantages — industrious people and enterprising companies.

Some might say a GDP growth rate of 3.6 percent is nothing to be proud of, and question why ordinary people are not feeling the benefit. Others might ask why growth of 4.42 percent was not achieved — the average annual growth rate when former president Chen Shui-bian (陳水扁) was in power. What factors account for the 0.82 percentage point difference?

The more discerning reader already knows the answer to this. It is because the Economic Cooperation Framework Agreement (ECFA) continues to harm the economy. If it were not for the ECFA, last year’s GDP growth rate might well have been 4.42 percent, or ever higher, and ordinary people could well have been the first to benefit from this growth.

Huang Tien-lin is former president and chairman of First Commercial Bank and a former Presidential Office adviser.

Translated by Paul Cooper

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