At a gathering of Chinese Nationalist Party (KMT) officials on Wednesday, the first day of work after the Lunar New Year holiday, President Ma Ying-jeou (馬英九), who doubles as party chairman, called on Taiwanese to work together to revive the country’s economy as he reiterated his pledge to boost the nation’s economic environment and outlook.
However, it is difficult to be optimistic about the president’s talk about improving the economy and people’s livelihoods when he did not even bother to usher in the Year of the Horse with a new Cabinet lineup to offer the public a new vision, let alone present any concrete financial and economic plans and policies.
Prior to the beginning of the Lunar New Year holiday last week, a rumor predicted a Cabinet reorganization in the Ma administration after the break.
It turns out, to the disappointment of many, that all of the Cabinet members in charge of financial and economic affairs are to stay put, in light of what Ma’s administration calls “placing stabilization and economic development at the top of its priorities.”
The truth is, if Ma is at all serious about boosting the nation’s economy, the Cabinet led by Premier Jiang Yi-huah (江宜樺) would have to undergo at least a minor reshuffling of the members in charge of financial and economic affairs to demonstrate the president’s determination to reinvigorate the economy. The lack of personnel changes on the finance and economics fronts only reinforces the widespread impression of the president as one who is all talk and no action.
The nation faces economic challenges ranging from a quickly deteriorating labor market and weakening household income to the growing gap between rich and poor, overdependence on China and record-high public debt.
In case the president needs a reminder, two of the five worst annual GDP performances between 1951 and last year — 0.73 percent in 2008 and minus-1.81 percent in 2009 — came under his administration. The 2.97 percent average GDP growth during Ma’s five years in office also pales in comparison with the former Democratic Progressive Party administration’s average of 4.42 percent growth between 2000 and 2008.
The unemployment rate of 4.24 percent remains high, workers’ salaries are back to where they were 16 years ago and the list of other depressing numbers, such as the increase in low-income households, goes on.
A survey conducted by Taiwan Indicator Survey Research late last month suggested that as many as 84.8 percent of respondents are dissatisfied with the current state of the economy and just 6.8 percent gave it a positive nod — a striking difference from Ma’s talk on Wednesday with claims that the nation’s commodity prices are dropping and that the economy is making a slow recovery.
Ma’s failure to deliver on his 2008 “6-3-3” campaign pledge — 6 percent economic growth, per capita income of US$30,000 and an unemployment rate below 3 percent — has become a bad joke. Hopefully the president’s latest pledges on reviving the nation’s economy will not fizzle out to be yet another laughingstock.
The Chinese Nationalist Party (KMT) has a good reason to avoid a split vote against the Democratic Progressive Party (DPP) in next month’s presidential election. It has been here before and last time things did not go well. Taiwan had its second direct presidential election in 2000 and the nation’s first ever transition of political power, with the KMT in opposition for the first time. Former president Chen Shui-bian (陳水扁) was ushered in with less than 40 percent of the vote, only marginally ahead of James Soong (宋楚瑜), the candidate of the then-newly formed People First Party (PFP), who got almost 37
Chinese Nationalist Party (KMT) presidential candidate and New Taipei City Mayor Hou You-yi (侯友宜) has called on his Democratic Progressive Party (DPP) counterpart, William Lai (賴清德), to abandon his party’s Taiwanese independence platform. Hou’s remarks follow an article published in the Nov. 30 issue of Foreign Affairs by three US-China relations academics: Bonnie Glaser, Jessica Chen Weiss and Thomas Christensen. They suggested that the US emphasize opposition to any unilateral changes in the “status quo” across the Taiwan Strait, and that if Lai wins the election, he should consider freezing the Taiwanese independence clause. The concept of de jure independence was first
Taiwan People’s Party (TPP) Chairman and presidential candidate Ko Wen-je (柯文哲) on Thursday reiterated that he is “deep-green at heart” and that he would mostly continue President Tsai Ing-wen’s (蔡英文) national defense and foreign policies if elected. However, he was still seriously considering forming a “blue-white” electoral alliance with the Chinese Nationalist Party (KMT) less than a month ago, telling students he “hates the KMT, but loathes the Democratic Progressive Party (DPP) even more,” while constantly criticizing Tsai’s foreign policy these past few years. Many critics have said that Ko’s latest remarks were aimed at attracting green-leaning swing voters, as recent polls
Taiwan’s Ministry of Labor and India’s Ministry of External Affairs have confirmed that the two countries plan to sign a memorandum of understanding (MOU) this month on recruiting Indians to work in Taiwan. While this marks another step in deepening ties between the two nations, it has also stirred debate, as misunderstandings and disinformation about the plan abound. Taiwan is grappling with a shortage of workers due to a low birthrate and a society that is projected to turn super-aged by 2025. Official statistics show that Taiwan has a labor shortfall of at least 60,000 to 80,000, which is expected