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May 27, 2017

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Taiwan can't afford to leave world behind: CNFI

TAIPEI, Taiwan -- The Chinese National Federation of Industries (CNFI,全國工業總會) chief on Thursday urged a political cease-fire between the two major camps, saying that Taiwan cannot afford to leave the world behind.

The Central News Agency (CNA) yesterday reported that Premier Jiang Yi-huah (江宜樺) and CNFI Chairman Rock Hsu (許勝雄) yesterday hosted a meeting with major industry and business associations. The CNFI is the largest industrial federation in Taiwan.

Despite policy adjustments and industry re-engineering to the dynamics of global economy, power of the government and the public sector has been undermined, Hsu said.

Hsu attributed the unwanted result to reduced options for policy tools and aggravating political turmoil which is leading to the loss of Taiwan's competitive edges.

The mega-trend of globalization is expedited by major economic-restructuring programs including the reindustrialization of America, the Twelfth Five-Year Plan of China, as well as export stimulation plans in Japan and South Korea, Hsu said.

It is high time Taiwan re-positions itself from traditional cost-oriented economy to value and innovation-driven economic hub.

"The world is moving on at the speed of light, Taiwan can't afford to lose any second," Hsu said while urging a political cease-fire between Kuomintang (KMT) and Democratic Progressive Party (DPP).

When Taiwan chooses to leave itself behind, it would only lead to the island's disappearance in the global economic picture, which is the last thing Hsu said he would want to see.

At the end of the meeting, Hsu presented a white paper to the Premier on behalf of CNFI, in which the eased restrictions on employee bonus system and qualifications of technological shareholder recently proposed by newly-appointed Minister of Economic Affairs Woody Duh Tyzz-Jiun (杜紫軍) were commended.

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