Sorrow of being Taiwanese
Former president Lee Teng-hui (李登輝), Taiwan’s father of democratization, has a famous saying: “Sorrow of being Taiwanese.”
Taiwan has been ruled by Spain, Portugal, Holland, the Qing Empire (considered a foreign regime by Chinese), Japan and the Republic of China (ROC). Taiwan is probably the only nation that has no official statehood after more than 400 years of foreign rule.
Taiwan was part of Japan for 50 years. During World War II, Taiwanese were drafted to fight for Japan. Taiwan, including what is now called the Presidential Office Building, was bombarded heavily by the US. These historical facts cannot be hidden or twisted. After the war, Japan gave Korea independence, but renounced Taiwan. Neither did the US play a positive role for settling Taiwan’s status.
According to President Ma Ying-jeou (馬英九) and People First Party presidential candidate James Soong (宋楚瑜), Taiwan was returned to the ROC in 1945. This is a lie, as revealed by the 1951 Treaty of San Francisco and 1952 Treaty of Taipei. Legally, Taiwan, often called “the orphan of Asia,” is still in an indeterminate status. The UN seems to have discarded the self- determination principle.
The Chinese Nationalist Party (KMT) has been a haywire ruling party — asking Taiwanese to treat Chinese as “communist bandits” or as “family members” depending on its mood. Some government officials call themselves “high-class Mainlanders” and disdain Taiwanese who give them paychecks.
Taiwan’s calls for international help have been ignored. The UN has rejected the nation’s application for membership numerous times. The world has been cool, even when college and high-school students issue SOS signals.
Recently, the US has normalized diplomatic relations with Cuba. However Taiwan, “the beacon of democracy” under the threat of 1,600 Chinese missiles, is not recognized by the US or the rest of the free world.
Taiwanese should work harder so that Taiwan is not treated like a war booty or a bargaining chip again.
Charles Hong
Columbus, Ohio
Stock market balances
It is funny how stock markets tank and pundits call it a “correction.” This indicates that prices were inherently “incorrect” to the upside.
To try to make the stock prices “correct,” the Chinese are creating new debt to try to levitate the market so that banana vendors, widows and orphans (who now can borrow on margin because of a new app) do not get sold out in Beijing’s latest financial boondoggle.
The People’s Bank of China must be saying, “you naughty, incorrect price, you bad boy!” and striking its backside with a bamboo stick, trying to get it to march upstairs. “Here’s another monetary treat. Just walk up to the next landing.” And it releases some “injection,” which is just heroin and will eventually kill the patient.
China’s economy is destined for implosion and internal revolution. Now that China’s masses of “rising middle class” folks realize that after being tricked into the housing bubble, later they were swept up in the margin-loan-based stock market bubbles. Fool me once …
These “investors” trapped behind the great firewall are blind to the information that would allow them to make good decisions; at least the smart and aware folks are buying gold, the permanent money.
And wait until you see Taiwan’s upcoming stock market “correction” — it is sure to be a doozy.
It is extremely important not to panic, said Douglas Adams, who wrote an authoritative series of investment guides.
To investors currently holding TAIEX shares: Look for value — stocks were lofty, yes, but not 50 times earnings or more, like the Shanghai bourse. Fundamentals matter, also a company’s reputation.
Take HTC for example. Poor management with weak foresight was its downfall. Hiring US actor Robert Downey Jr as promoter was a huge mistake that wasted stockholder’s money.
It was reported that HTC’s stock price is trading below the cash on hand. This is impossible in markets that are not completely distorted by too much global debt and money flying around like a ghost-chasing festival.
Readers also found out that the handset maker wants to divest some plants in China. This is the first smart thing their leaders have done yet. Dump non-production before the bottom falls out and retain your focus on Taiwan.
Portfolio reallocation is likely to be the key, with a focus on defensive sectors like telecoms and utilities. Some names in technology can withstand strong headwinds, like Taiwan Semi and several others.
Please note that hotels and construction companies are decidedly not defensive at this time.
With HTC, the share price drop was predicted long ago, when “CEO Cher” was alleged to have funneled international money into pro-bigotry “Christian in Name Only” local churches in Taiwan. These groups, dressed in weird costumes, sang weird songs and denied pro-gay marriage individuals their human right to free travel in a civilized society, while the police stood idly by at an event.
The international LGBT community was extremely angry with the details of these allegations and instigated an international boycott of HTC, my friends tell me.
Still want to hold their shares?
Torch Pratt
Yonghe
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