Taiwan needs to continue to work seriously toward joining the Trans-Pacific Partnership (TPP) if it wants to retain its economic competitiveness, former American Institute in Taiwan (AIT) chairman Richard Bush said yesterday.
This is vital because the proposed free-trade alliance of Pacific-Rim countries could better integrate the nation into the global economy and produce the structural adjustments it needs to enhance its economic power, Bush said at a seminar in Taipei.
The move for Taiwan may not be easy due to opposition from Beijing, he said, but it is important for the government to make the case that it is necessary for the nation’s development.
“This is not so much an issue of political dignity; it is an issue of economic prosperity,” Bush said a day after the launch of a Chinese-language edition of his new book titled Uncharted Strait: The Future of China-Taiwan Relations.
As Taiwan is entering a transition period of social and economic development, it will need to establish a knowledge-based economy in line with world trends, Bush said.
“Taiwan will face some difficult challenges even if China were not such an important factor, even if China did not exist,” the former diplomat said.
Those challenges include a growing central government budget deficit, unemployment and income inequality — which will require structural reforms, Bush said.
Through entry to the TPP Taiwan could establish stronger ties with its trade partners and reduce its economic dependence on China, he added.
However, such a “self-strengthening” process would require Taiwan to further liberalize its markets through methods such as eliminating protectionism and allowing greater market access, he said.
Bush reiterated his stance that the current situation on the Korean Peninsula has been limited to a “psychological test of wills” between North Korea and the US.
The real danger is what the North might be mulling — limited military attacks against a target under South Korea’s control, he said.
Such provocative action could result in retaliation by the South and lead to greater uncertainty and turmoil in the region, he said.
A magnitude 6.4 earthquake struck off the coast of Hualien County in eastern Taiwan at 7pm yesterday, the Central Weather Administration (CWA) said. The epicenter of the temblor was at sea, about 69.9km south of Hualien County Hall, at a depth of 30.9km, it said. There were no immediate reports of damage resulting from the quake. The earthquake’s intensity, which gauges the actual effect of a temblor, was highest in Taitung County’s Changbin Township (長濱), where it measured 5 on Taiwan’s seven-tier intensity scale. The quake also measured an intensity of 4 in Hualien, Nantou, Chiayi, Yunlin, Changhua and Miaoli counties, as well as
STAY AWAY: An official said people should avoid disturbing snakes, as most do not actively attack humans, but would react defensively if threatened Taitung County authorities yesterday urged the public to stay vigilant and avoid disturbing snakes in the wild, following five reported snakebite cases in the county so far this year. Taitung County Fire Department secretary Lin Chien-cheng (林建誠) said two of the cases were in Donghe Township (東河) and involved the Taiwan habus, one person was bit by a Chinese pit viper near the South Link Railway and the remaining two were caused by unidentified snakes. He advised residents near fields to be cautious of snakes hiding in shady indoor areas, especially when entering or leaving their homes at night. In case of a
Credit departments of farmers’ and fishers’ associations blocked a total of more than NT$180 million (US$6.01 million) from being lost to scams last year, National Police Agency (NPA) data showed. The Agricultural Finance Agency (AFA) said last week that staff of farmers’ and fishers’ associations’ credit departments are required to implement fraud prevention measures when they serve clients at the counter. They would ask clients about personal financial management activities whenever they suspect there might be a fraud situation, and would immediately report the incident to local authorities, which would send police officers to the site to help, it said. NPA data showed
ENERGY RESILIENCE: Although Alaska is open for investments, Taiwan is sourcing its gas from the Middle East, and the sea routes carry risks, Ho Cheng-hui said US government officials’ high-profile reception of a Taiwanese representative at the Alaska Sustainable Energy Conference indicated the emergence of an Indo-Pacific energy resilience alliance, an academic said. Presidential Office Secretary-General Pan Men-an (潘孟安) attended the conference in Alaska on Thursday last week at the invitation of the US government. Pan visited oil and gas facilities with senior US officials, including US Secretary of the Interior Doug Burgum, US Secretary of Energy Chris Wright, Alaska Governor Mike Dunleavy and US Senator Daniel Sullivan. Pan attending the conference on behalf of President William Lai (賴清德) shows a significant elevation in diplomatic representation,
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