President Tsai Ing-wen (蔡英文) should convene government agencies for emergency discussions on contingencies to counteract a possible intensification of US-China trade frictions after US President Donald Trump signed into law the Hong Kong Human Rights and Democracy Act, People First Party (PFP) Chairman James Soong (宋楚瑜) said yesterday.
Soong, the PFP’s presidential candidate, made the comments at a campaign event in Miaoli County after Trump signed the act on Wednesday, which gave authorization for the US to issue sanctions on Chinese and Hong Kong officials it deems to be responsible for human rights abuses in the Chinese territory.
Beijing accused the US of interfering in its domestic affairs with the law.
Photo: Cheng Ming-hsiang, Taipei Times
Pro-democracy protests in Hong Kong have escalated the US-China conflict and the results would severely affect Taiwan’s economy, Soong said.
Should the yuan depreciate drastically, local markets, Taiwanese businesses in China and export-oriented industries would be hit hard, Soong said.
Tsai should treat this matter seriously and convene a meeting with officials from the central bank, the Ministry of Financial Affairs, the Financial Supervisory Commission and the two largest political parties to discuss contingencies, said Soong, who has represented Tsai at APEC events.
Regarding Tsai’s comments that she does not exclude the possibility of a meeting with Chinese President Xi Jinping (習近平), Soong said such an event was “not possible” at this time.
The staunch support for Taiwanese independence by Tsai’s running mate, former premier William Lai (賴清德), does not lend itself to peace across the Taiwan Strait, Soong said, adding that a deep freeze in ties would not thaw in the short term.
At the event in Nanjhuang Township (南庄), Soong called on Beijing to limit its squabble with the Democratic Progressive Party (DPP) to politics and not let it spill over into the tourism industry, which wants peaceful cross-strait interactions.
Miaoli and the central government lack communication and the county is suffering from insufficient income, a lack of tourists and problems with its vocational education, Soong said.
Should he be elected, he would seek to resolve the issue of tax redistribution and improve Miaoli’s finances, Soong said.
During his tenure as Taiwan provincial governor from 1994 to 1998, he visited Miaoli 83 times, an average of once per month, to understand the needs of the people, Soong said.
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