Vice Premier and Council for Economic Planning and Development Chairman Lin Hsin-i (林信義) said yesterday that the impact of a short war between the US and Iraq on the domestic economy would be limited.
At a legislative question-and-answer session, Lin said that a war lasting from three to six weeks would have no major impact on Taiwan's exports and imports.
Lin said that a prolonged military conflict would hamper outbound shipments.
Lin also made it clear that Taiwan will support the US and its campaign against terrorism should war break out.
Responding to a question about a domestic steel shortage raised by PFP caucus whip Chung Shao-ho (鍾紹和), Vice Minister of Economic Affairs Chen Ruey-long (陳瑞隆) said government agencies, including the one in charge of raw materials and major products, have set up task forces to tackle the possible consequences of a war.
The Ministry of Economic Affairs has also asked China Steel Corp (CSC) -- Taiwan's leading supplier of steel materials -- to satisfy domestic demand before exporting its products, Chen said, adding that demand for steel might surge in the international market in the post-war construction period.
In the face of rising international prices for steel goods and the many disgruntled mid- and downstream steelmakers at home, Chen said the ministry has crafted measures to secure supplies for the domestic market by preventing CSC-contracted wholesalers from exporting unprocessed raw materials.
PFP lawmakers said earlier the same day that various CSC mid-stream suppliers have exported unprocessed raw materials and hiked prices, making it difficult for local downstream businesses to buy steel at reasonable prices.
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"Law-enforcement authorities should intervene to ensure a balanced demand and supply at reasonable prices," Hsieh argued.
Three batches of banana sauce imported from the Philippines were intercepted at the border after they were found to contain the banned industrial dye Orange G, the Food and Drug Administration (FDA) said yesterday. From today through Sept. 2 next year, all seasoning sauces from the Philippines are to be subject to the FDA’s strictest border inspection, meaning 100 percent testing for illegal dyes before entry is allowed, it said in a statement. Orange G is an industrial coloring agent that is not permitted for food use in Taiwan or internationally, said Cheng Wei-chih (鄭維智), head of the FDA’s Northern Center for
LOOKING NORTH: The base would enhance the military’s awareness of activities in the Bashi Channel, which China Coast Guard ships have been frequenting, an expert said The Philippine Navy on Thursday last week inaugurated a forward operating base in the country’s northern most province of Batanes, which at 185km from Taiwan would be strategically important in a military conflict in the Taiwan Strait. The Philippine Daily Inquirer quoted Northern Luzon Command Commander Lieutenant General Fernyl Buca as saying that the base in Mahatao would bolster the country’s northern defenses and response capabilities. The base is also a response to the “irregular presence this month of armed” of China Coast Guard vessels frequenting the Bashi Channel in the Luzon Strait just south of Taiwan, the paper reported, citing a
UNDER PRESSURE: The report cited numerous events that have happened this year to show increased coercion from China, such as military drills and legal threats The Chinese Communist Party (CCP) aims to reinforce its “one China” principle and the idea that Taiwan belongs to the People’s Republic of China by hosting celebratory events this year for the 80th anniversary of the end of World War II, the “retrocession” of Taiwan and the establishment of the UN, the Mainland Affairs Council (MAC) said in its latest report to the Legislative Yuan. Taking advantage of the significant anniversaries, Chinese officials are attempting to assert China’s sovereignty over Taiwan through interviews with international news media and cross-strait exchange events, the report said. Beijing intends to reinforce its “one China” principle
A total lunar eclipse, an astronomical event often referred to as a “blood moon,” would be visible to sky watchers in Taiwan starting just before midnight on Sunday night, the Taipei Astronomical Museum said. The phenomenon is also called “blood moon” due to the reddish-orange hue it takes on as the Earth passes directly between the sun and the moon, completely blocking direct sunlight from reaching the lunar surface. The only light is refracted by the Earth’s atmosphere, and its red wavelengths are bent toward the moon, illuminating it in a dramatic crimson light. Describing the event as the most important astronomical phenomenon
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