The serious difficulties facing Taiwan's economy means that various individuals and organizations will voice dissatisfaction with government policies. This is inevitable in a democratic country.
Reports about a demonstration in Taipei by about 100,000 farmers and fishermen this Saturday should not worry society. Nor should the planned protests cause the government to weaken appropriate reforms of the credit departments of farmers' and fishermen's associations. Policy flip-flops will only confuse matters and cause people to lose faith in the government's reform measures.
To be fair, executives at the farmers' and fishermen's credit co-operatives are responsible for most of the financial difficulties facing the co-ops. These executives, in cooperation with opposition politicians, have fanned the flames of anger for the farmers and fishermen, whose livelihoods have long been facing difficulties. They have painted the government's plan to manage the failing co-ops as an attempt to "annihilate" them.
They have forced the government to make a major policy U-turn by suspending implementation of the reforms. This will allow the co-op executives, who have long preyed on ordinary rural citizens, to carry on with their financial misdeeds. The consequences of this will be endless and farmers and fishermen will find it even more difficult to improve their livelihoods.
The farmers' and fishermen's associations have long been controlled by the KMT and have long since evolved into political platforms for local gangsters. In every election, the KMT has engaged in vote-buying through these organizations.
In addition, local factions have often treated the credit co-ops like their own personal coffers. Illegal and non-performing loans have been serious and prevalent problems at the co-ops. Many of them are facing collapse due to widespread embezzlement.
In short, the credit co-ops are a time bomb waiting to blow up Taiwan's financial sector. There can be absolutely no excuse for the government to avoid reforming these corrupt institutions.
Former president Lee Teng-hui's (李登輝) idea of merging these co-ops into a large-scale agricultural bank is a good suggestion. Only then can the interests of Taiwan's farmers and fishermen be guaranteed under a healthy financial institution.
Agricultural affairs should be separated from financial affairs. Financial experts should be brought in to watch over the purses of farmers and fishermen. Revenues generated therein should be used for expanding distribution networks for agricultural produce and for other agricultural measures.
Everyone knows that the farmers' and fishermen's associations have arrived at a stage where reforms are inevitable. But the pan-blue camp has tried to use the two groups as tools for political wrangling. They have fomented their anger in an attempt to block the government's reform efforts.
This is a repeat of the uproar over the Fourth Nuclear Power Plant. The opposition camp has won face, but the entire citizenry will have to pay dearly for it.
The postponement of reforms will only aggravate the financial hemorrhage at the co-ops. If a bank run breaks out, the government will have to clean up the mess and take care of all the bad loans and bad assets. Meanwhile, those who have so abused and pillaged the co-ops will get away scot free.
The government cannot afford to forget its mission of bringing Taiwan into a new era. It should show some guts and demonstrate that it is not afraid of losing political power. It should stop acting like the KMT government, making people wonder where Taiwan's future lies.
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