Direct transport links between Taiwan and China is likely to top the agenda of President Chen Shui-bian's (
The panel, established late last month, is headed by KMT Vice Chairman Vincent Siew (
"The business community has been privately crying out loud for immediate implementation of direct links across the Taiwan Strait, although they may have recently been muted following the SARS outbreak," the leader of a prominent business group told the Taipei Times yesterday on the condition of anonymity.
He said that during private meetings with business leaders, many expressed great dissatisfaction with Chen's lackluster performance on economic issues and the delayed relaxation of cross-strait trade policies. Therefore, the business community is prepared to throw its full support behind Siew's unreleased proposal for building a cross-strait common market and facilitating direct links, he added.
"Taiwan's economic future hinges on Chinese markets and their manufacturing base," he said, citing the consensus shared by the nation's six business groups, which have been invited to participate in the economic advisory panel.
He added that the KMT has been very aggressive in preparing to push the issue to solicit support from the business community in the run up to next year's presidential elections if the DPP fails to make its stance clear on the matter.
Siew, also chairman of the non-profit Taiwan Cross-Strait Common Market Foundation, is on a trip to Europe and is slated to return home tonight. He is expected to kick off the panel's operations by hammering out economic solutions for the president.
Last week, Siew talked to London-based Financial Times on the urgency of direct cargo charter flights to China.
"We have to take the initiative [in implementing the links]," Siew said in the interview, adding that he would begin consultation with the Mainland Affairs Council on the cargo charter flights proposal upon his return.
Although the DPP administration may frown on rushing cross-strait issues, Siew added that he wanted to drag the government out of the current deadlock.
"Some people in the ruling party take an ideological position on this, so they are unable to achieve a breakthrough," Siew said. "I hope to make some proposals to work out a policy that is backed by a vision."
On May 23, Chen named Siew to head the panel and acted on Siew's recommendations to further appoint three other economic heavyweights to join the panel. They are Chen Po-chih (陳博志), chairman of the Taiwan Thinktank (台灣智庫), Chen Tien-chih (陳添枝), president of the CIER, and Wu Rong-yi (吳榮義), president of the Taiwan Institute of Economic Research.
The panel's other economic advisor, however, was not aware that Siew would revive the controversial issue.
"I can't comment unless I've received his blueprint [for direct links]," Wu said yesterday.
Wu reiterated that the panel will soon sit down and finalize economic priorities, adding the expansion of public spending on infrastructure projects still appears to be the most effective way to stimulate private investments.
Sharing a similar view, Chen Po-chih yesterday said that the panel should also address solutions to solve the nation's sluggish real-estate market -- an indicator of the increasing deflationary pressure.
The Cabinet should continue to offer preferential home loans to first-time home buyers, cut the incremental land-value tax and facilitate urban renovation projects in major cities and counties, he said.
The New Taiwan dollar is on the verge of overtaking the yuan as Asia’s best carry-trade target given its lower risk of interest-rate and currency volatility. A strategy of borrowing the New Taiwan dollar to invest in higher-yielding alternatives has generated the second-highest return over the past month among Asian currencies behind the yuan, based on the Sharpe ratio that measures risk-adjusted relative returns. The New Taiwan dollar may soon replace its Chinese peer as the region’s favored carry trade tool, analysts say, citing Beijing’s efforts to support the yuan that can create wild swings in borrowing costs. In contrast,
Nvidia Corp’s demand for advanced packaging from Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) remains strong though the kind of technology it needs is changing, Nvidia CEO Jensen Huang (黃仁勳) said yesterday, after he was asked whether the company was cutting orders. Nvidia’s most advanced artificial intelligence (AI) chip, Blackwell, consists of multiple chips glued together using a complex chip-on-wafer-on-substrate (CoWoS) advanced packaging technology offered by TSMC, Nvidia’s main contract chipmaker. “As we move into Blackwell, we will use largely CoWoS-L. Of course, we’re still manufacturing Hopper, and Hopper will use CowoS-S. We will also transition the CoWoS-S capacity to CoWos-L,” Huang said
Nvidia Corp CEO Jensen Huang (黃仁勳) is expected to miss the inauguration of US president-elect Donald Trump on Monday, bucking a trend among high-profile US technology leaders. Huang is visiting East Asia this week, as he typically does around the time of the Lunar New Year, a person familiar with the situation said. He has never previously attended a US presidential inauguration, said the person, who asked not to be identified, because the plans have not been announced. That makes Nvidia an exception among the most valuable technology companies, most of which are sending cofounders or CEOs to the event. That includes
INDUSTRY LEADER: TSMC aims to continue outperforming the industry’s growth and makes 2025 another strong growth year, chairman and CEO C.C. Wei says Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), a major chip supplier to Nvidia Corp and Apple Inc, yesterday said it aims to grow revenue by about 25 percent this year, driven by robust demand for artificial intelligence (AI) chips. That means TSMC would continue to outpace the foundry industry’s 10 percent annual growth this year based on the chipmaker’s estimate. The chipmaker expects revenue from AI-related chips to double this year, extending a three-fold increase last year. The growth would quicken over the next five years at a compound annual growth rate of 45 percent, fueled by strong demand for the high-performance computing