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Updated Thursday, July 2, 2009 9:33 am TWN, The China Post news staff DPP seeks to thwart gov't policy on Chinese investmentsDPP Chairman Tsai Ing-wen called a party meeting yesterday, one day after the announcement by the Ministry of Economic Affairs (MOEA) to begin accepting applications from Chinese investors. Tsai said her party will exert all efforts to oppose the liberalization policy toward China adopted by the administration of the ruling Kuomintang (KMT) without an adequate defense mechanism. She said allowing Chinese investments in infrastructure projects like airports and harbors here will compromise the national security. Chinese investments in telecommunications business will also harm the people's privacy and undermine the business secrets of enterprises, she said. Tsai said the DPP maintains its stand of steadfastly safeguarding Taiwan's sovereignty and will never make any concession regarding the political bottom line. The legislative caucus of the party will formally initiate a set of rules to regulate Chinese investment activities with the supervision by the Legislative Yuan, she said. Other steps to be taken by the DPP will include soliciting suggestions from business and industry leaders concerning the negative impact on certain sectors in Taiwan from Chinese investments. Tsai said the party will also hold another meeting soon to exchange views with party leaders and opinion leaders on relevant ramifications. Former DPP lawmaker Tuan Yi-kang said the party should demand that the Executive Yuan (Cabinet) freeze the rules governing Chinese capital investments in Taiwan. Based on the experiences of Hong Kong and Macau, Chinese capital investments in these two districts have enabled China to control the political affairs there through the manipulation of the stock and other financial markets, Tuan said. DPP spokesman Cheng Wen-tsan said Chinese capital will let Beijing dictate Taiwan's political development just like in Hong Kong and Macau. Hung Chi-chang, who formerly served as a legislator and chairman of the Taipei-based Strait Exchange Foundation, said the MOEA has pushed the premature policy too soon. He questioned if it is a sheer coincidence that the new measures announced by the MOEA officially take effect on July 1, which is also the 12th anniversary for Hong Kong's return to Chinese rule. Tien Chiu-ching, an incumbent DPP lawmaker, said Hong Kong has lost its luster as "the Pearl of the Orient" after the arrival of Chinese capital. She warned that China can easily use tremendous capital to boost the stock price index in Taiwan to 20,000 points and then abruptly pull out all the fund. They both urged the government to shelve the measures on opening Chinese capital investments in Taiwan until the parliament ratifies new rules supervising the Chinese investment activities here. Subscribe to The China Post and save 25%. Click here Comments July 2, 2009 mcwizard@ The DPP are a bunch of traitors. They became rich by cooperating for 50 years with the Japanese occupiers, and now they are still acting against our Chinese brothers and sisters.Shame on them. July 13, 2009 kuen3096@ tublairy@ wrote: I agree with your comment even though my major is not economics.Hong Kong lost its luster after the world had direct access to Chinese products through channels in other major cities such as Shanghai. It had nothing to do with the arrival of Chinese capital in Hong Kong. Second, why would China send the stock index up to 20,000 and then pull out the money? It's not a bank: it’s a market. That money would all go into the pockets of Taiwanese companies and investors, the only way to 'get it back' it to sell the shares to someone. The neat thing is they have a choice, no one can take it back. Such comments show a disturbing lack of understanding of economic matters for someone of such high position. As a teacher, I would expect more of a junior high school student. July 18, 2009 hft33362003@ Your headline "DPP seeks to thwart govt. policy on Chinese Investments"During the days when Chen Shui bian was riding high this headline would have caused Taiwan to shake in fear. Now it does not even sting like a bee borrowing the quote of Muhammad. Ali, the former World Heavyweight Champion. Now maybe it would just be an ant bite or perhaps an even lesser effect. What a pity for the new DPP Chairwoman in trying to seize every opportunity to show leadership. DPP is very good at fishing in trouble waters. |
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Second, why would China send the stock index up to 20,000 and then pull out the money? It's not a bank: it’s a market. That money would all go into the pockets of Taiwanese companies and investors, the only way to 'get it back' it to sell the shares to someone. The neat thing is they have a choice, no one can take it back.
Such comments show a disturbing lack of understanding of economic matters for someone of such high position. As a teacher, I would expect more of a junior high school student.