President Ma Ying-jeou (馬英九) said yesterday the government would be extra cautious in dealing with the European debt crisis and take measures to stabilize the financial situation over the next four years.
Premier-designate Sean Chen (陳冲), who assumed office yesterday, has a profound understanding of the European debt crisis and its possible impact, and the new Cabinet will present measures to stabilize the economy, Ma said.
“The [European] import market will definitely suffer a decline if the situation in Europe continues to deteriorate, and both Taiwan and China will be affected. We cannot afford to take anything for granted,” he said during a meeting of the Chinese Nationalist Party’s (KMT) Central Standing Committee at KMT headquarters.
Photo: Fang Pin-chao, Taipei Times
The committee yesterday discussed the possible impact of the European debt crisis on the global economy. Reviving the economy was one of Ma’s major campaign policies in his re-election bid, and the appointment of Chen, an expert in the financial field who handled the 2008 financial crisis, reflected his ambition to focus on economic issues in his second term.
Government statistics showed that the economy grew at an annual rate of 4.03 percent last year, and the nation’s GDP is expected to grow at a slower pace of 3.91 percent this year, as exports are predicted to fall as demand from developed countries for locally made electronic products shrinks.
Ma said it was possible that the economy would enter a recession this year, but added that the economic situation would improve after the first quarter, in accordance with the estimation of the Directorate-General of Budget, Accounting and Statistics.
The Executive Yuan set up a task force in December last year that has presented seven strategies to address the economic situation, and the new Cabinet will also be well-prepared if it is faced with a global recession, Ma said.
FEELING MISUNDERSTOOD: Media speculation has fueled confusion about the KMT’s reasons for skipping a Chinese forum and delaying an AIT meeting, party sources said The Chinese Nationalist Party (KMT) on Sunday said that it is not seeking to improve relations with the US or China at the expense of the other, and that its relations with the countries would be topic-based. The party has faced questions over its foreign policy after it on Monday last week announced its withdrawal from the annual Straits Forum and delayed planned talks with the American Institute in Taiwan (AIT). The party has also taken a tough stance on the importation of US meat containing ractopamine, while also lambasting China for increasing its military activity in and around the Taiwan Strait. Following
Taipei City Councilor Wang Hao (王浩) of the Chinese Nationalist Party (KMT) on Monday called for security improvements to the MRT, as fare evasion has increased more than 13-fold on the metropolitan railway system over the past five years. Taipei Mayor Ko Wen-je (柯文哲) has spoken out against fare evasion and other contraventions of MRT regulations, but since he took office in 2015 the number of contraventions has more than doubled, Wang said, adding that there were 537 cases in 2015 compared with 959 last year. A video was posted to YouTube in June showing people how to evade paying a fare,
CONTROVERSY: NHIA Director-General Lee Po-chang said an outcry over overseas Taiwanese not paying premiums, but having coverage, is pushing rule amendments Rules changes are being considered that would force Taiwanese who permanently live abroad to pay National Health Insurance (NHI) premiums for the period they were overseas before they can re-enroll in the system, National Health Insurance Administration (NHIA) Director-General Lee Po-chang (李伯璋) yesterday said. The case of a married Taiwanese couple who lived in the US for about 30 years, but returned to Taiwan in April and tested positive for COVID-19 has again sparked public debate over why Taiwanese living abroad are allowed to use NHI resources, — although the couple’s expenses were not covered by the NHI. An often cited example
AN EXAMPLE: After attending a memorial service for Lee Teng-hui, Mori said the former president’s career reflected the importance of peace and democracy Using military force to resolve conflict is no longer workable in this new era, which requires peaceful discussion, former Japanese prime minister Yoshiro Mori said yesterday before leaving Taipei. Mori made the remarks at a news conference in front of the EVA Sky Jet Center at Taipei International Airport (Songshan airport), after leading a delegation to attend the official memorial service for former president Lee Teng-hui (李登輝) in New Taipei City’s Tamsui District (淡水). This was Mori’s second trip to mourn Lee; his last was on Aug. 9. Although he walked with a crutch, Mori, 83, chose to stand right in front of