Local business leaders yesterday extended their congratulations to President Chen Shui-bian (
"Empowered by the people's mandate, President Chen should strive for better cross-strait relations, adopting practical mainland policies to maintain cross-strait economic prosperity," said Chen Cheng-yi (
The China syndrome
Chen Shui-bian's opponents have criticized him for his track record on China and the economy.
"Chen Shui-bian's cross-strait policies have been too vague and he needs to soon come up with a plan in preparation for the resumption of talks with China," said an industry leader, who requested anonymity.
But after the re-elected president secured over 6 million votes yesterday, China will be forced to acknowledge Chen's administration and should conduct negotiations with him, he said.
Hopes for the facilitation of direct links with China have long been a common hope of the nation's business tycoons, including Wang Yung-ching (
A second chance
Rock Hsu, (
"The DPP administration should continue to improve the nation's investment environment, making sure that the supply of water and electricity is sufficient for industry to flourish," Hsu said.
Hsu is also chairman of Compal Electronics Inc (
Both Chen Cheng-yi and Hsu said they hope that political gridlock and tensions could be eliminated. They also expressed a bullish view on the nation's economic future, saying that an over 5 percent economic growth rate this year is likely if overall business confidence can be restored following the election.
GCC's Chen hopes that President Chen will not backpedal on his economic and financial policies by creating trade barriers and raising taxes, which could shackle growth.
Instead of focusing on forging closer economic ties with China, Chen Shui-bian concentrated his campaign on safeguarding the nation from Beijing's military threats as well as the communists' attempts at diplomatically isolating the budding democracy here.
An industrialist who requested anonymity suggested that President Chen reshuffle his economic and financial ministers to improve the Cabinet's capabilities in dealing with economic matters although the president suffers from a woefully limited talent pool.
All the president's men
"The lack of top-shelf economic and financial advisors to the president is the business community's biggest worry," he said.
Business leaders yesterday refused to comment on political complications involving KMT candidates' call for a recount immediately following the election, but said "such a development is surely bad for the economy," adding that such actions by the oppostion party were entirely selfish.
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Tropical Storm Fung-Wong would likely strengthen into a typhoon later today as it continues moving westward across the Pacific before heading in Taiwan’s direction next week, the Central Weather Administration (CWA) said. As of 8am, Fung-Wong was about 2,190km east-southeast of Cape Oluanpi (鵝鑾鼻), Taiwan’s southernmost point, moving westward at 25kph and possibly accelerating to 31kph, CWA data showed. The tropical storm is currently over waters east of the Philippines and still far from Taiwan, CWA forecaster Tseng Chao-cheng (曾昭誠) said, adding that it could likely strengthen into a typhoon later in the day. It is forecast to reach the South China Sea
Almost a quarter of volunteer soldiers who signed up from 2021 to last year have sought early discharge, the Legislative Yuan’s Budget Center said in a report. The report said that 12,884 of 52,674 people who volunteered in the period had sought an early exit from the military, returning NT$895.96 million (US$28.86 million) to the government. In 2021, there was a 105.34 percent rise in the volunteer recruitment rate, but the number has steadily declined since then, missing recruitment targets, the Chinese-language United Daily News said, citing the report. In 2021, only 521 volunteers dropped out of the military, the report said, citing
WEATHER Typhoon forming: CWA A tropical depression is expected to form into a typhoon as early as today, the Central Weather Administration (CWA) said yesterday, adding that the storm’s path remains uncertain. Before the weekend, it would move toward the Philippines, the agency said. Some time around Monday next week, it might reach a turning point, either veering north toward waters east of Taiwan or continuing westward across the Philippines, the CWA said. Meanwhile, the eye of Typhoon Kalmaegi was 1,310km south-southeast of Oluanpi (鵝鑾鼻), Taiwan’s southernmost point, as of 2am yesterday, it said. The storm is forecast to move through central
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