The Mainland Affairs Council (
Tsao on Sunday led a small delegation of Matsu officials to the Chinese coastal town of Mawei, located 60km from Taiwan's tiny military outpost, to sign an agreement with local officials strengthening economic and personal exchanges between the two sides (加強民間交流與合作協議).
Under the "small three links" (
The council released a statement yesterday saying that although it had not authorized the move, it approved of Tsao's actions as they "were a people-to-people initiative to promote the `small three links.'" Indeed, Tsao asserted that as a private undertaking there was no need to seek the approval of the council, which charts the government's China policy, saying only the approval of the Chinese side to the agreement was required.
The statement stressed that it agreed to Tsao's position that he had taken the step as a representative of Matsu and not as an authorized representative of the government to help bolster ties. "The agreement was unofficial and non-governmental," said the council. "Any negotiations and their outcomes must be authorized by the council for them to have legal bearing," it said.
Council Chairwoman Tsai Ing-wen (
"This kind of spontaneous interaction between the two sides are not considered official and therefore have no legal bearing," Tsai said.
However, Tsai stressed that official negotiations on cross-strait trade matters must be conducted by the central government unless it authorizes other parties to do so on its behalf.
Besides media speculation on whether Tsao's actions usurped the authority of the central government, signing of the agreement further generated headlines due to its taking place under the "one China" banner.
But Tsao dismissed suggestions of a cave-in to the "one China" which the new government refuses to recognize. "The principle has long been part of the nation's constitution and many agreements signed between private groups across the strait are done so under this principle," Tsao said.
The New Taiwan dollar is on the verge of overtaking the yuan as Asia’s best carry-trade target given its lower risk of interest-rate and currency volatility. A strategy of borrowing the New Taiwan dollar to invest in higher-yielding alternatives has generated the second-highest return over the past month among Asian currencies behind the yuan, based on the Sharpe ratio that measures risk-adjusted relative returns. The New Taiwan dollar may soon replace its Chinese peer as the region’s favored carry trade tool, analysts say, citing Beijing’s efforts to support the yuan that can create wild swings in borrowing costs. In contrast,
Nvidia Corp’s demand for advanced packaging from Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) remains strong though the kind of technology it needs is changing, Nvidia CEO Jensen Huang (黃仁勳) said yesterday, after he was asked whether the company was cutting orders. Nvidia’s most advanced artificial intelligence (AI) chip, Blackwell, consists of multiple chips glued together using a complex chip-on-wafer-on-substrate (CoWoS) advanced packaging technology offered by TSMC, Nvidia’s main contract chipmaker. “As we move into Blackwell, we will use largely CoWoS-L. Of course, we’re still manufacturing Hopper, and Hopper will use CowoS-S. We will also transition the CoWoS-S capacity to CoWos-L,” Huang said
Nvidia Corp CEO Jensen Huang (黃仁勳) is expected to miss the inauguration of US president-elect Donald Trump on Monday, bucking a trend among high-profile US technology leaders. Huang is visiting East Asia this week, as he typically does around the time of the Lunar New Year, a person familiar with the situation said. He has never previously attended a US presidential inauguration, said the person, who asked not to be identified, because the plans have not been announced. That makes Nvidia an exception among the most valuable technology companies, most of which are sending cofounders or CEOs to the event. That includes
INDUSTRY LEADER: TSMC aims to continue outperforming the industry’s growth and makes 2025 another strong growth year, chairman and CEO C.C. Wei says Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), a major chip supplier to Nvidia Corp and Apple Inc, yesterday said it aims to grow revenue by about 25 percent this year, driven by robust demand for artificial intelligence (AI) chips. That means TSMC would continue to outpace the foundry industry’s 10 percent annual growth this year based on the chipmaker’s estimate. The chipmaker expects revenue from AI-related chips to double this year, extending a three-fold increase last year. The growth would quicken over the next five years at a compound annual growth rate of 45 percent, fueled by strong demand for the high-performance computing