Economist in favor of ECFA, with conditions

Chen Tain-jy, a former chairman of the Council for Economic Planning and Development, described the signing of the economic cooperation framework agreement (ECFA) as Taiwan's first step in reaching out to the world.

But whether Taiwan reaches out to the world via China or reaches out to China via the world is a political issue that he, as an economist, cannot answer, Chen went on.

From an economic perspective, he said, it is not a difficult question, as trade is based on the principles of relative interests and opening is a good thing.

Chen said the government should pay attention to the impact that the ECFA will have on certain sectors, and added that Taiwan should not rely just on the ECFA to solve all its problems and that after the signing of the trade pact, should continue to seek trade agreements with other countries.

He said Taiwan should adopt a new global management mode and that the signing of the ECFA should only be part of Taiwan's overall opening.

The administration of President Ma Ying-jeou advocates the signing of the ECFA in the belief that it will avoid Taiwan becoming marginalized by the ASEAN plus one (China) that went into effect in January this year.

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