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.
‘HERO OF THE ERA’: President Tsai Ing-wen expressed deep sadness at Lee’s passing, and told the government to assist his family with all their needs Former president Lee Teng-hui (李登輝) passed away at 7:24pm yesterday at Taipei Veterans General Hospital. He was 97 years old. The hospital stated the cause of death as septic shock and multiple organ failure. Lee had been hospitalized there since February, when he choked on a mouthful of milk at home. He was later diagnosed with pulmonary infiltrates and aspiration pneumonia. The hospital said that Lee had been treated with antibiotics, but that his health had not improved, as his advanced age and diabetes had inhibited his immune system and led to recurring infections. During his hospitalization, Lee underwent daily kidney dialysis, which removed
‘WEAK POSITIVE’: The man arrived in Taiwan in May and was quarantined for two weeks, Chen Shih-chung said, adding that he might be infected a long time ago The government is considering tightening mask-wearing rules again in light of a potential domestic COVID-19 infection, Minister of Health and Welfare Chen Shih-chung (陳時中) said yesterday. The Central Epidemic Command Center (CECC) confirmed seven new COVID-19 cases, six of which are imported. The other case involves a Belgian engineer who entered Taiwan on May 3 and remained in quarantine until May 17, said Chen, who heads the CECC. Although the source of infection has yet to be identified, the case could end the nation’s record of not having any domestic cases in the previous 110 days. The Belgian, in his 20s, is a technician
RECEIVING TREATMENT: President Tsai Ing-wen, Vice President William Lai and Premier Su Tseng-chang visited former president Lee Teng-hui yesterday morning Taipei Veterans General Hospital yesterday rebutted speculation that former president Lee Teng-hui (李登輝) had died a day earlier, saying that he was weak, but receiving treatment. The hospital said the 97-year-old Lee was not in good condition and needed ongoing care, adding that if there are any changes in his condition, it would make those public. The comments came after rumors emerged online on Tuesday that Lee had died after being hospitalized since early February. Soon after the unsubstantiated rumors emerged, reporters started flocking to the hospital seeking confirmation. Lee was admitted to Taipei Veterans General Hospital on Feb. 8 after choking while drinking
ROAD TO HISTORY: When Lee Teng-hui joined the KMT, the likelihood of a Taiwanese becoming ROC president, much less its first directly elected one, was hard to imagine Lee Teng-hui (李登輝), who was born on Jan. 15, 1923, in the farming community of Sanshi Village, Taihoku Prefecture — now New Taipei City’s Sanzhi District (三芝) — during the Japanese colonial era, and rose to become mayor of Taipei and not only the Republic of China’s (ROC) first Taiwan-born president, but its first directly elected one as well. Educated in the Japanese educational system of the time, Lee, who spoke Japanese, Hoklo (also known as Taiwanese), Mandarin and English, won a scholarship to Kyoto Imperial University, but his studies were interrupted by World War II. He earned a bachelor’s