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September 23, 2017

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Minister's resignation triggers concerns over the national economy

TAIPEI--A financial industry leader and several ruling Kuomintang (KMT) lawmakers said Sunday they were concerned about the future of Taiwan's economy, following Economics Minister Chang Chia-juch's resignation after a series of deadly gas explosions in Kaohsiung late last month.

David Chu, chairman of Hua Nan Securities Investment Management, said many people in the financial sector feel powerless and are having "cold sweats" about Taiwan's economy.

At a time when other countries are actively expanding their economies - for example, South Korea is about to sign a free trade agreement with China - the government of Taiwan must provide fair opportunities for Taiwanese businesses to compete, Chu said.

The government, however, is unable to do so because of the turbulent political climate, Chu said.

Meanwhile, KMT Legislator Huang Chao-shun expressed regret over Chang's resignation and said that in the current hostile legislative environment, "even the best minister would leave."

Another KMT lawmaker, Ting Shou-chung, said the Democratic Progressive Party's constant boycott of economic bills in the Legislative Yuan will drag down Taiwan's economy.

Chang Chih-yuan, secretary-general of the Allied Association for Science Park Industries, advised that the opposition parties recommend a new economics minister and that the ruling and opposition parties work together for the country's future, instead of verbally abusing and insulting each other.

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