President Ma Ying-jeou (馬英九) said yesterday that the government understood the public’s frustration with current economic hardship but urged people to unite in the face of adversity and have faith in the country.
“The public must feel some resentment toward the recent commodity price hikes. The government must accept the public’s resentment instead of dodging it,” Ma said yesterday morning while receiving representatives of the Chinese National Federation of Industries at the Presidential Office.
The president said that the country’s economic fundamentals remained good in spite of the recent price hikes and the stock market slide.
He added that the government was seeking long-term solutions to improve the investment environment and boost the economy, while waiting for a rebound in the global economy that could bolster Taiwan’s economic performance.
Ma reiterated his message later in the afternoon and called on the public to face the economic situation calmly and rationally. He said that the nation has survived many economic challenges, including the Asian financial crisis of 1997 to 1998.
“We Taiwanese people should believe in ourselves. We need not worry about future challenges because Taiwanese are not easily intimidated,” he said.
Ma’s remarks came in the wake of gasoline and commodity price hikes and a slide in share prices on the TAIEX, with shares closing 3.94 percent lower on Tuesday — their lowest level in 20 months.
Ma said the price hikes and fall in share prices were both reactions to the global situation and that the government would focus on improving the investment environment rather than interfering with the market to seek short-term solutions.
“We are doing everything we can to improve the economy even though no immediate effects can be seen. Whenever [hardship hits us], I believe the country is able to take advantage of the situation and rise again,” he said.
He said that the Ministry of Economic Affairs, the central bank and other Cabinet agencies were working hard to stabilize consumer prices, improve the nation’s investment climate and boost the economy.
He also said he understood that the public was upset that real incomes were eroding as commodity prices rise, but the government would face the problem in a calm and reasonable manner.
As long as the economy remains fundamentally strong, the nation should enjoy economic prosperity once the global economy recovers, he said.
The performance of the TAIEX did not improve yesterday on Ma’s statement. Share prices closed little changed as profit-taking reversed early gains sparked by Wall Street’s overnight rebound, dealers said.
The weighted index closed down 0.05 percent at 7,048.25, on turnover of NT$117.42 billion (US$3.86 billion). Risers led decliners 1,191 to 915, with 456 stocks unchanged.
Additional reporting by AFP
Also see: FSC’s Susan Chang appointed head of Taiwan Financial, Bank of Taiwan
A Taipei veterinarian is urging pet owners to avoid using insecticides around their homes, as their ingredients can be toxic to pets. Commercial-grade insecticides contain pyrethroids — organic compounds similar to natural pyrethrins, pesticides produced by flowers such as chrysanthemums — in quantities that are harmless to humans, but potentially fatal to cats and dogs, Asian Veterinary Specialist Referral Center veterinarian Chua Man-ling (蔡曼琳) said. Even in small quantities, pyrethroids are hazardous to cats, as they lack the metabolic enzymes needed to process them, Chua said. Cockroach sprays and ant traps are especially dangerous to pets as they contain boric acid, she
People should avoid eating too many zongzi (粽子, glutinous rice wrapped in bamboo leaves), as consuming several in one meal could cause indigestion, bloating, gastric acid reflux, heartburn and other stomach ailments, a doctor said on Saturday. Zongzi is a traditional delicacy for the Dragon Boat Festival, which was on Thursday. Citing a recent case as an example, Cathay General Hospital gastroenterology department head Chu Yu-ming (朱淯銘) said that a 58-year-old taxi driver surnamed Hsiao (蕭) ate meals at irregular hours due to his work and has been taking diabetes medicine for three years. Hsiao recently bought a bag of zongzi and ate
While stereotypically considered a household pest that simply will not die, Hung Ting-yang’s (洪鼎揚) experience with Archimandrita tesselata, commonly called the peppered roach, might change a person’s mind. The peppered roach originates in South America, is omnivorous and, as it is capable of growing to 7cm to 9cm long, is a giant compared with other roaches, which have an average length of about 4cm. The peppered roach goes through six separate chrysalis stages and takes nine months to reach full maturity. Mature roaches have wings, but cannot fly and can only glide. They have an average lifespan of three years. As his
The EU’s list of safe nations to which it would reopen borders next week does not include Taiwan, but the Ministry of Foreign Affairs yesterday said the list has not been finalized and some EU countries have highlighted the importance of “reciprocity.” The provisional list comprises Algeria, Andorra, Australia, Canada, Georgia, Japan, Monaco, Montenegro, Morocco, New Zealand, Rwanda, San Marino, Serbia, South Korea, Thailand, Tunisia, Uruguay and the Vatican, the New York Times reported on Friday. The EU said it would add China, considered one of the “acceptable countries,” if it also opens its borders to EU travelers, the newspaper reported. Backed by
RSS