Making the cut for economic or finance posts in the new Cabinet rests more on loyalty to President Chen Shui-bian (
"The logic behind Chen's nominations is that [a candidate's] political color and loyalty take priority over their professionalism," said the New Party's Lai Shyh-bao (
Loyalty and subordination to the commander-in-chief has helped the political careers of many of Chen's close aides. Five top officials on the president's team today served by Chen's side when he was Taipei mayor from 1994 to 1998.
They are premier-designate Yu Shyi-kun; Chen Chu (陳菊), chairwoman of the Council of Labor Affairs; Lin Chuan (林全), head of the Directorate General of Budget, Accounting and Statistics; Chang Fu-mei (張富美), chairwoman of the Overseas Chinese Affairs Commission; and Lee Yi-yang (李逸洋), the new head of Central Personnel Administration.
But with few DPP card-carrying members versed in economics or finance, the list of candidates for ministers of finance and economic affairs remains short. A final announcement is expected today.
Media reports have said Benny Hu (
The Liberty Times reported today that the job of economic affairs minister has been offered to Christine Tsung (
Tsung, a corporate executive at China Airlines for less than two years, previously served as a finance official in a small US town.
Though attractive, flashy and media savvy -- Fortune magazine named her as an influential businesswoman to watch this year -- Tsung has little economic experience. Still, she was thrust into the race because of her support for President Chen.
Lai yesterday said that Benny Hu's political connections with Chen made him a strong contender for finance minister.
But a former colleague who worked with Hu at China Development Industrial Bank raised doubts about his qualifications.
"Hu is very good at securities, but weak in taxation and other financial sectors, while Tsung is only adept at marketing and minor financial affairs since she's from the service sector," the anonymous source said.
"I really doubt how much they know about government policies."
If the premier chooses Tsung, she would be the first female economic affairs minister in the nation's history.
The 54-year-old CEO lived in the US for 28 years and first met Chen when he visited America as Taipei's mayor.
As the financial officer for the city government of Poway outside San Diego, California, Tsung introduced many influential US politicians and business figures to Chen, whom she said was a sincere and cordial statesman.
During the 2000 presidential race, Tsung -- a second-generation Chinese American of mainland descent -- organized the "Friends of A-bian Club" to build support for Chen.
While Lai, a professor of finance at National Chengchi University, said that the potential candidates for finance and economic posts are qualified for the job, he questioned whether their ties to the commercial sector would hinder their ability to carry out government reforms.
"Hu knows exactly where the financial hazards are [in Taiwan], but the question is whether he is willing to offend his former associates, say for example China Development Industrial Bank, and fix banking sector problems," Lai said.
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