A decade ago, when Lee Teng-hui was president, he concocted a “go slow, be patient” policy to restrict investment and trade with the mainland. His successor Chen Shui-bian largely follows Lee’s line regarding cross-strait relations. But he policy is at variance with the aspirations of the business community.

At a forum on the global economy held here on Wednesday, business magnate Morris Chang said the mainland market is an opportunity for Taiwan’s economy. “The mainland’s market is even attractive to Japanese consumers who usually don’t like to buy foreign products. Taiwan should eye the mainland as a potential market for value-added products,” he said. Chang stressed the idea of “value creation” by marking up prices because of better services and brand-name recognition. He said Taiwan should lose no time to seize the mainland market.

Speaking in a similar vein, Japanese scholar Kenichi Ohmae said Taiwan’s politicians should view mainland China as a customer instead of a threat. He suggested that whoever wins the presidential election next month should pay a visit to the mainland to understand what’s going on there.

The renowned scholar predicted that mainland China is likely to overtake Japan in terms of gross domestic product by 2008 to become the second largest economy in the world. By then, mainland China’s economy will be ten times that of Taiwan’s. So it’s time for Taiwan to ponder its future relationship with the mainland.

That advice should be heeded by Taiwan’s future leadership, be it Chen Shui-bian or Lien Chan, the opposition’s candidate for president. It would be a boon for Taiwan’s economy if cooperation could replace confrontation in cross-strait economic relations after the crucial election.