A senior member of APEC's business arm warned yesterday that the outbreak of severe acute respiratory syndrome (SARS) in China should be regarded as a lesson to businessmen not to concentrate their investments in any one country.
"Concentration in one country or one area ... is always something to be considered carefully," said Tasuku Takagaki, former president of the Bank of Tokyo Mitsubishi and a senior member of the APEC Business Advisory Council (ABAC).
"SARS has perhaps given some warning on that point," Takagaki told a joint news conference with other Japanese representatives of ABAC ahead of a four-day meeting of the business advisory council in Tokyo starting next Tuesday.
In the wake of the SARS outbreak, concern has been raised over the outlook for the Chinese economy, which is home to the production bases of major manufacturing companies from Japan and other countries.
SARS is expected to be high on the agenda for the ABAC meeting, which will draw business leaders from the 21 APEC members.
"We have not had any concrete plan at the moment but we have a plan to talk about the effect of SARS at the ABAC meeting," said Nobuhiko Kawamoto, former president of Honda Motor and another senior member of ABAC.
"We will propose that [concrete plan], as a result of discussions, to the APEC leaders," said Kawamoto, who is now a Honda advisor and non-executive director.
Kawamoto suggested the impact of SARS on Japanese investment in China may be limited, however, as many Japanese firms have taken a cautious approach when investing in the country.
"Major Japanese businessmen investing in China have been making step-by-step investments until now," Kawamoto said. "So, in that sense, regardless of SARS, the attitude will not change."
Kawamoto also said it is "too early to say" anything about the possibility that Chinese authorities could restrict business activities as they tackle the SARS outbreak.
The ABAC, the private sector arm of APEC, submits an annual report to APEC leaders on potential measures to improve business and investment in the region.
"There are a number of serious issues confronting the regional economy at the moment," ABAC chairman Viphandh Roengpithya, said in a statement released on Monday.
"It is crucial that the business community plays a role in maintaining our regional economic health," Viphandh said.
APEC trade ministers will meet June 2 to 3 in the Thai province of Khon Kaen.
ROLLER-COASTER RIDE: More than five earthquakes ranging from magnitude 4.4 to 5.5 on the Richter scale shook eastern Taiwan in rapid succession yesterday afternoon Back-to-back weather fronts are forecast to hit Taiwan this week, resulting in rain across the nation in the coming days, the Central Weather Administration said yesterday, as it also warned residents in mountainous regions to be wary of landslides and rockfalls. As the first front approached, sporadic rainfall began in central and northern parts of Taiwan yesterday, the agency said, adding that rain is forecast to intensify in those regions today, while brief showers would also affect other parts of the nation. A second weather system is forecast to arrive on Thursday, bringing additional rain to the whole nation until Sunday, it
LANDSLIDES POSSIBLE: The agency advised the public to avoid visiting mountainous regions due to more expected aftershocks and rainfall from a series of weather fronts A series of earthquakes over the past few days were likely aftershocks of the April 3 earthquake in Hualien County, with further aftershocks to be expected for up to a year, the Central Weather Administration (CWA) said yesterday. Based on the nation’s experience after the quake on Sept. 21, 1999, more aftershocks are possible over the next six months to a year, the agency said. A total of 103 earthquakes of magnitude 4 on the local magnitude scale or higher hit Hualien County from 5:08pm on Monday to 10:27am yesterday, with 27 of them exceeding magnitude 5. They included two, of magnitude
CONDITIONAL: The PRC imposes secret requirements that the funding it provides cannot be spent in states with diplomatic relations with Taiwan, Emma Reilly said China has been bribing UN officials to obtain “special benefits” and to block funding from countries that have diplomatic ties with Taiwan, a former UN employee told the British House of Commons on Tuesday. At a House of Commons Foreign Affairs Committee hearing into “international relations within the multilateral system,” former Office of the UN High Commissioner for Human Rights (OHCHR) employee Emma Reilly said in a written statement that “Beijing paid bribes to the two successive Presidents of the [UN] General Assembly” during the two-year negotiation of the Sustainable Development Goals. Another way China exercises influence within the UN Secretariat is
Taiwan’s first drag queen to compete on the internationally acclaimed RuPaul’s Drag Race, Nymphia Wind (妮妃雅), was on Friday crowned the “Next Drag Superstar.” Dressed in a sparkling banana dress, Nymphia Wind swept onto the stage for the final, and stole the show. “Taiwan this is for you,” she said right after show host RuPaul announced her as the winner. “To those who feel like they don’t belong, just remember to live fearlessly and to live their truth,” she said on stage. One of the frontrunners for the past 15 episodes, the 28-year-old breezed through to the final after weeks of showcasing her unique