A group of lawyers and civic groups yesterday said that if the “cronyism in the finance sector and judiciary” that began under the Chinese Nationalist Party (KMT) persists, young people — who are facing the concentration of capital, impoverishment and a low birth rate — risk becoming a “crumbled generation.”
Lawyer Fan Jen-yu (樊仁裕) said that the finance sector has hired people from the former administration to be their “door gods.”
For example, Hsueh Hsiang-chuan (薛香川) has been the vice chairman of CTBC Financial Holding (中信金控) since resigning as Executive Yuan secretary-general during former president Ma Ying-jeou’s (馬英九) first term in 2009, former Mega Financial Holding Co chairman Mckinney Tsai (蔡友才), who resigned in April, became one of Cathay Financial Holding Co’s board of directors (until he resigned on Aug. 23), Catherine Lee (李紀珠), the chairperson of state-run Taiwan Financial Holdings until the end of last month, was formerly the president of Shin Kong Financial Holding Co, Fan said.
He also called on Tsai’s administration to hold former Mega Financial Holding Co chairman Shiu Kuang-si (徐光曦) — who resigned on Thursday — accountable for breaches of US money laundering rules rather than “keeping him at large because he is central bank Governor Perng Fai-nan’s (彭淮南) sister-in-law’s husband.”
The composition of the Committee of Illegal Party Asset Settlement, Tsai’s grand justice picks and the members of the Executive Yuan’s monitoring taskforce overlooking the Mega Bank incident are all in one way or another related to a particular law firm and the Judicial Reform Foundation, Fan said.
Northern Taiwan Society Chairman Chang Yeh-sen (張葉森) said that there have been a string of financial malpractice cases but the government has not demonstrated “resolve” in dealing with them.
National Taiwan University professor of law Chen Chih-lung (陳志龍) said economic crimes and serious corruption are rarely prosecuted, making Taiwan a “haven for economic crimes.”
Wang Yi-kai (王奕凱), who was an active participant in the Sunflower movement protests, said the economy has fallen into the hands of “crony capitalists... to the extent that, according to The Economist, Taiwan is even worse than China in this respect.”
“Taiwan is also relying far too much on an ‘insubstantial economy’ that puts too much emphasis on land speculation and financial exchange and is a breeding ground for political nepotism,” he said, calling on the government to support startups by providing information on the needs of the global economy and promoting value-added production.
Days after it was banned in China, a Mandarin ballad satirizing nationalistic Chinese Internet users is trending at No. 1 on YouTube in Taiwan and Hong Kong. Fragile (玻璃心), by Taiwan-based Malaysian rapper Namewee (黃明志) and Australian singer Kimberley Chen (陳芳語), offers a tongue-in-cheek apology to “little pink” Internet users, a disparaging term that describes patriotic “keyboard warriors” from China. After racking up more than 9 million views on YouTube, the song reached No. 3 on the site in Malaysia on Thursday, according to Kworb, a Web site that analyzes music data from around the world. It is also the only Chinese-language
NO CHANGE: US officials indicated that the ‘one China’ policy remains in place, while the NATO chief avoided discussing Biden’s comment in an effort to ease tensions US Secretary of Defense Lloyd Austin said on Friday that the Pentagon would continue to support Taiwan’s military, but he declined to say if US troops would defend the island against China, after US President Joe Biden said there was a US “commitment” to do so. “As we’ve done over multiple administrations, we will continue to help Taiwan with the sorts of capabilities that it needs to defend itself,” Austin said at NATO headquarters. “So we’ll stay focused on those things, and I won’t engage in any hypotheticals with respect to Taiwan,” he told reporters. Biden on Thursday sparked a new firestorm
PROTECTION: The Ministry of Health and Welfare is aiming for a full vaccination rate of 30 percent, and allowing mixed first and second doses to boost coverage rates Whether Taiwan reopens its borders would depend on the nation’s vaccination coverage rate and the COVID-19 situation in other countries, Deputy Minister of Health and Welfare Shih Chung-liang (石崇良) said yesterday. The Ministry of Health and Welfare is aiming for a 70 percent first-dose vaccination coverage and 30 percent two-dose coverage as part of its consideration, Shih told a media briefing following the weekly Cabinet meeting. In spite of a relatively stable COVID-19 situation in Taiwan, and calls from foreign missions and businesses in the country to allow more international travelers, the government is maintaining strict border control measures. Since March last year,
SCENIC TRAIN TOURS: TRA Director-General Du Wei said experts on aesthetics and railway culture have worked for 10 months to restore the blue locomotive Breezy Blue, the Taiwan Railways Administration’s (TRA) tourism train, is to be launched on the South Link Line on Saturday. The railway operator spent about 10 months restoring the blue diesel-powered train, which first provided service to students and commuters before being outsourced to Lion Travel, which organizes railway tour packages. TRA Director-General Du Wei (杜微) told reporters on the sidelines of a ceremony in Pingtung County’s Fangliao Township (枋寮) that the agency hopes that the restored Breezy Blue would provide an authentic experience to railway fans as well as those with fond memories of riding the blue trains to work or