A group of local economists and financial experts yesterday urged the government not to adopt a hostile attitude toward China as it has become the Republic of China's largest export outlet.
The scholars made the appeal at a public hearing on capital flow between Taiwan and China, sponsored by KMT Legislator Pan Wei-kang (
Their appeal came as a response to Vice President Annette Lu's (呂秀蓮) remarks on Thursday that the rush by local businesses to invest in China, commonly known as "mainland fever," has taken a heavy toll on Taiwan's miraculous economic growth in recent years.
Speaking at the public hearing, Lee Tung-hao (李桐豪), chairman of the banking and finance department of National Chengchi University (政大), said China has emerged as Taiwan's third largest trading partner and No. 1 export market.
"We should not adopt a hostile attitude toward such an important trading partner," Lee noted.
Noting that cross-strait relations have entered a critical juncture, Lee said the massive relocation of Taiwan capital and production bases is the logical result of economic division of labor between the two sides of the Taiwan Strait.
Lee further said what the Republic of China government should do to cope with this situation is mulling how to help Taiwanese investors to develop their businesses in China.
Lee said the government should adopt new thinking in industrial development policies and taking new measures to attract them to retain their business roots at home and help local enterprises secure needed capital to finance their domestic investment and business expansion projects.
Meanwhile, National Taiwan University (台大) economics professor Hsu Chen-ming (許振明) said that as both Taiwan and China will be admitted to the WTO in the not-too-distant future, the government should not dodge the issue of allowing inflow of China capital.
Hsu said the government should forge a national risk management mechanism to manage capital flow in preparation for opening the doors to China capital and cross-strait financial exchanges.
The government is aiming to recruit 1,096 foreign English teachers and teaching assistants this year, the Ministry of Education said yesterday. The foreign teachers would work closely with elementary and junior-high instructors to create and teach courses, ministry official Tsai Yi-ching (蔡宜靜) said. Together, they would create an immersive language environment, helping to motivate students while enhancing the skills of local teachers, she said. The ministry has since 2021 been recruiting foreign teachers through the Taiwan Foreign English Teacher Program, which offers placement, salary, housing and other benefits to eligible foreign teachers. Two centers serving northern and southern Taiwan assist in recruiting and training
WIDE NET: Health officials said they are considering all possibilities, such as bongkrekic acid, while the city mayor said they have not ruled out the possibility of a malicious act of poisoning Two people who dined at a restaurant in Taipei’s Far Eastern Department Store Xinyi A13 last week have died, while four are in intensive care, the Taipei Department of Health said yesterday. All of the outlets of Malaysian vegetarian restaurant franchise Polam Kopitiam have been ordered to close pending an investigation after 11 people became ill due to suspected food poisoning, city officials told a news conference in Taipei. The first fatality, a 39-year-old man who ate at the restaurant on Friday last week, died of kidney failure two days later at the city’s Mackay Memorial Hospital. A 66-year-old man who dined
EYE ON STRAIT: The US spending bill ‘doubles security cooperation funding for Taiwan,’ while also seeking to counter the influence of China US President Joe Biden on Saturday signed into law a US$1.2 trillion spending package that includes US$300 million in foreign military financing to Taiwan, as well as funding for Taipei-Washington cooperative projects. The US Congress early on Saturday overwhelmingly passed the Further Consolidated Appropriations Act 2024 to avoid a partial shutdown and fund the government through September for a fiscal year that began six months ago. Under the package, the Defense Appropriations Act would provide a US$27 billion increase from the previous fiscal year to fund “critical national defense efforts, including countering the PRC [People’s Republic of China],” according to a summary
‘CARRIER KILLERS’: The Tuo Chiang-class corvettes’ stealth capability means they have a radar cross-section as small as the size of a fishing boat, an analyst said President Tsai Ing-wen (蔡英文) yesterday presided over a ceremony at Yilan County’s Suao Harbor (蘇澳港), where the navy took delivery of two indigenous Tuo Chiang-class corvettes. The corvettes, An Chiang (安江) and Wan Chiang (萬江), along with the introduction of the coast guard’s third and fourth 4,000-tonne cutters earlier this month, are a testament to Taiwan’s shipbuilding capability and signify the nation’s resolve to defend democracy and freedom, Tsai said. The vessels are also the last two of six Tuo Chiang-class corvettes ordered from Lungteh Shipbuilding Co (龍德造船) by the navy, Tsai said. The first Tuo Chiang-class vessel delivered was Ta Chiang (塔江)