An independent study on the Trans Pacific Partnership (TPP) trade agreement said that membership in the bloc would make Taiwan more competitive and would reduce the nation’s economic dependence on China.
If Taiwan does not join the TPP, its competitiveness would erode, the study said.
Penned by Council on Foreign Relations member Kevin Nealer and US Department of Energy research specialist Margaux Fimbers, the study has been published by the National Bureau of Asian Research.
The authors said that the main benefits of the TPP are derived from its regional scope and high standards for entry.
“The benefits of joining the TPP would go beyond creating more space for Taiwan in the international arena,” Nealer and Fimbers said.
“Taiwan’s economic future depends on maintaining its competitive advantage,” they added.
Meeting the standards set by the TPP would necessitate a comprehensive reform in Taiwan, which would in turn make the nation more competitive in the long run, they said.
TPP membership would also provide an avenue for trade diversification.
The Chinese Nationalist Party (KMT) under President Ma Ying-jeou (馬英九) has emphasized the importance of joining the TPP in the second round of negotiations and the Democratic Progressive Party (DPP) has also backed membership, the paper said.
“Taiwan still faces two main challenges as it seeks to join the TPP — domestic resistance and opposition from China,” the study said.
It said that one possible diplomatic option for the US would be to work privately toward Taiwan’s inclusion in the TPP — provided it meets the same requirements as current members — to blunt the effect of a veto by the Chinese government.
“This option could be pursued alongside a strategy of accelerating China’s TPP entry and is not inconsistent with the US policy goal,” the study said.
It said that Taiwan should focus its efforts on the areas of the TPP where it can achieve successful outcomes, such as the services sector, rather than attempting to tackle all aspects of the partnership at once.
“Taking incremental steps toward meeting TPP standards will enable Taiwan’s leaders to build public support for more difficult reforms in agriculture and investor-state dispute resolution,” the study said.
Transparency would be “extremely important” in convincing the public that joining TPP is in Taiwan’s best interests, the study added.
It said that Taiwan should engage in bilateral discussions with TPP members to review key trade and investment issues and consider how it might reform its economy to engage in a follow-up round for potential new members.
“In particular, Taiwan should engage with Japan, which has publicly supported Taiwan joining negotiations and is facing similar difficulties in passing the domestic reforms required by the TPP,” the study said.
It said that given all the strategic and security implications of further integration into the Asia-Pacific region, joining the TPP would be immensely advantageous for Taiwan.
“It is imperative for Taiwan to knit itself into the economic and commercial fabric of the region,” the study said.
“Being a bystander at a time of accelerating regional integration would inevitably reduce Taiwan’s competitiveness and marginalize its role,” the study concluded.
FUKUOKA SITUATION: Japanese media reported that the pathogen is expected to be identified by the summer, while the CDC downplayed the idea that it was hMPV A “mysterious cold-like illness” reported in Japan’s Fukuoka Prefecture does not seem to be a new disease, but Japanese authorities have been asked about the situation, the Centers for Disease Control (CDC) said yesterday. The Fukuoka Prefectural Medical Association on Wednesday told a news conference that a “mystery cold” that has become a hot topic on social media is “highly likely to be caused by some kind of viral infection,” Japan’s KBC News reported. “Many people are experiencing symptoms starting with a sore throat, followed by a runny nose, phlegm and a severe cough,” KBC News reported, citing association officials. Health authorities are
Nvidia Corp CEO Jensen Huang (黃仁勳) arrived in Taiwan yesterday ahead of upcoming AI and technology events, saying he plans to meet with clients and Taiwan Semiconductor Manufacturing Co Chairman C.C. Wei (魏哲家) during his visit. After landing at Taipei Songshan Airport, Huang posed for photos with fans and handed out Yakult drinks to reporters and supporters waiting at the scene, saying he has “a lot to do” during the trip. Asked about reports that Nvidia’s planned headquarters site in Taipei’s Beitou Shilin Technology Park could break ground on May 27, Huang said that if the company holds an event, he would
The Ministry of Finance this afternoon announced the winning numbers for the March-April uniform invoice lottery. The winning number for the NT$10 million (US$318,060) special prize is 19531471, and the winning number for the NT$2 million grand prize is 85941329. Three numbers were drawn for the NT$200,000 first prize: 07225810, 20231230 and 83518781. Those with receipts matching the last seven digits of any of the first-prize numbers will win the NT$40,000 second prize, while those matching the last six digits will win the NT$10,000 third prize. Those whose receipts match the last five digits of the first-prize numbers can claim the NT$4,000 fourth prize,
Taiwan Travelogue (臺灣漫遊錄), which earlier this week became the first Taiwanese novel to win the International Booker Prize, is to be adapted into a television series through a Taiwan-Japan coproduction, producer Chang Chen-yu (張辰漁) said yesterday. Chang, a producer at World Softest Production Film Co, wrote on Facebook that the company had been searching for projects with international appeal that retain a strong Taiwanese identity after colleagues and Japanese partners strongly recommended the novel. After reading the book, Chang said he immediately decided to pursue the screen rights. “A great story has the power to transcend time and borders, and connect countless people,”
RSS