Wang Yung-ching's (王永慶) shot of cool economic reason stirred the highest levels of government and the political spectrum yesterday prompting a meeting with Premier Chang Chun-hsiung (張俊雄) and another with President Chen Shui-bian (陳水扁) today.
Chang met with Formosa Plastics Group (
Cabinet members would also attend the breakfast summits Wang proposed held among business and government leaders to discuss the nation's economic woes, Chang said. He was accompanied by Vice Premier Lai Ying-jaw (賴英照) and Cabinet secretary Chiou Yi-jen (邱義仁).
The meeting came a day after Wang urged politicians to end the political squabbling and focus on the business of managing the nation's economy.
But the premier also used the opportunity to attempt to assuage Wang's fears pointing out that in the 40 days he had been in office he had drafted more than 10 measures to stabilize the government and bolster the economy.
Chang listed the organizing of meetings on building a knowledge-based economy in Taiwan, next January's planned national summit on economic development and the attempted passage by the government of revisions to the Labor Law.
Many of the measures including the working hours issue, however, had been sunk by political infighting, admitted Chang.
And while Wang affirmed that the government was worked hard, he also said that it's ideas on the economy have been "mixed up" and that the economic problems cannot be solved in one day.
"The industrial sector has been becoming more and more concerned by the economic situation which has been worsening day by day," Wang said.
Wang said confidence would only come from political stability.
Wang will get his chance to express his ideas on economic development with President Chen this morning, when he is scehduled to lead a delegation of business heads, including Quanta Computer head Barry Lam (林百里).
It is likely that Wang will make a case for the opening of direct links with China, an issue the 83-year old tycoon has felt strongly about for years.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) founder Morris Chang (張忠謀) yesterday said that Intel Corp would find itself in the same predicament as it did four years ago if its board does not come up with a core business strategy. Chang made the remarks in response to reporters’ questions about the ailing US chipmaker, once an archrival of TSMC, during a news conference in Taipei for the launch of the second volume of his autobiography. Intel unexpectedly announced the immediate retirement of former chief executive officer Pat Gelsinger last week, ending his nearly four-year tenure and ending his attempts to revive the
WORLD DOMINATION: TSMC’s lead over second-placed Samsung has grown as the latter faces increased Chinese competition and the end of clients’ product life cycles Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) retained the No. 1 title in the global pure-play wafer foundry business in the third quarter of this year, seeing its market share growing to 64.9 percent to leave South Korea’s Samsung Electronics Co, the No. 2 supplier, further behind, Taipei-based TrendForce Corp (集邦科技) said in a report. TSMC posted US$23.53 billion in sales in the July-September period, up 13.0 percent from a quarter earlier, which boosted its market share to 64.9 percent, up from 62.3 percent in the second quarter, the report issued on Monday last week showed. TSMC benefited from the debut of flagship
A former ASML Holding NV employee is facing a lawsuit in the Netherlands over suspected theft of trade secrets, Dutch public broadcaster NOS said, in the latest breach of the maker of advanced chip-manufacturing equipment. The 43-year-old Russian engineer, who is suspected of stealing documents such as microchip manuals from ASML, is expected to appear at a court in Rotterdam today, NOS reported on Friday. He is accused of multiple violations of the sanctions legislation and has been given a 20-year entry ban by the Dutch government, the report said. The Dutch company makes machines needed to produce high-end chips that power
As South Korea descends into political chaos, its equity market risks falling further behind major tech rival Taiwan, which is basking in the glory of a global artificial intelligence (AI) boom. A near-30 percent surge in Taiwan’s stock benchmark this year, set to be the best since 2009, has already helped spur a historic divergence between Asia’s two tech-dominated markets. The nation’s market capitalization now exceeds South Korea’s by about US$950 billion as the world’s AI frontrunners from Nvidia Corp and Microsoft Corp to OpenAI all increasingly turn to Taiwanese firms for supply. Looking ahead to next year, while both export-oriented economies