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.
Liya Chu (朱如茵), whose parents are New York-based Taiwanese restaurateurs, has been crowned the champion of US television cooking competition MasterChef Junior, after wowing the judges, including celebrity chef Gordon Ramsay, with a feast of fusion cuisine. In the finale of the show’s eighth season, broadcast on Thursday, Chu walked away with US$100,000 after serving a spread of spiced duck breast with scallion pancakes and miso eggplant, followed by coconut pandan panna cotta with a passion fruit coulis and sesame tuille. Chu, who was 10 years old at the time of filming three years ago, faced off against then-11-year-old Grayson Price from
A university student has gained the spotlight for an interactive map he designed detailing all of China’s military bases and installations throughout the Indo-Pacific region. Soochow University music student Joseph Wen (溫約瑟), who calls himself an amateur military enthusiast, said he created the map to “help people better understand the cross-strait situation.” Wen originally posted the map online on June 14 last year, but it gained greater attention after he mentioned it during an appearance on a China Television talk show. On the show, Wen said he had gathered information on the locations from publicly available Web sites, as
GLOBAL STRATEGY: Indo-Pacific alliances need reinforcement to prevent Chinese occupation of Taiwan, which would threaten Japan, Hawaii and Australia, Pompeo said The US should officially recognize Taiwan as a free, independent nation and establish official diplomatic ties, former US secretary of state Mike Pompeo told an event at the Hudson Institute in Washington on Friday. Every US president since Harry Truman has considered Taiwan’s existence to be of utmost importance to US national security, Pompeo said. Taiwan is a principal US partner in technology and economic matters, and if China were to capture Taiwan’s semiconductor supply chain, it would severely hamper the US economy, Pompeo said. Should China occupy Taiwan, it would severely weaken US influence in the Indo-Pacific region and its surrounding areas,
Opening-day ticket sales for a horror exhibition at the Tainan Art Museum were suspended twice on Saturday as the show attracted too many visitors. Titled “Ghosts and Hells: The Underworld in Asian art,” the exhibition runs until Oct. 16. It is the local version of a show that debuted at the Musee du quai Branly-Jacques Chirac in Paris. It was planned and curated by Julien Rousseau. The Tainan museum said that within an hour of its doors opening, more than 1,000 people had entered the exhibition. By noon, 3,000 physical and virtual tickets had been sold, while the museum had more than 4,000
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