On July 28, Chinese financial supervisory agencies made a surprise raid on Taiwanese bank branch offices in China for "illegally attracting business without the necessary licenses." The banks must be condemned for also breaking Taiwanese law by engaging in financial business in China. They are just like rats that, in their greed, bite through a food bag and spill all its contents out on the floor. They have increased the nation's capital outflow. Taiwan's Financial Supervisory Commission (FSC) should take action and punish them severely.
Ever since Chinese Premier Wen Jiabao (
In fact, Taiwan's economy has smoothly been transformed from a handicraft, mechanical and automated industry to the digital age. Taiwan has developed into a leading player in the electronics industry, and is rapidly developing in areas of precision technologies. Taiwan has already won a leading international role as a manufacturer of computers, digital cameras and other advanced products, a clear indication that it has already developed an excellent knowledge-based environment that is ideal for research and development. In addition, development within traditional industries, brand creation and developing sales channels has proved very successful in consolidating traditional industries in Taiwan. Giant, Taiwan's bicycle manufacturer, and La New, a shoe manufacturer, are outstanding examples of this process. It is clear from this that if only the director of the enterprise operates effectively, there is no reason why Taiwanese products cannot be sold all over the world.
Taiwan Thinktank chairman Chen Po-chih (陳博志) said in a recent publication that Taiwan's experience of economic development is similar to that of Switzerland and Finland. Many of the problems those two countries faced were the result of having vastly more powerful neighbors. But as long as they could navigate international trends, and worked hard at upgrading their industries and developing a "knowledge economy," they could still become highly competitive commercial nations with a high standard of living. Taiwan's economic development has never relied on China, and there is no reason why it should start now.
China bedazzled Taiwanese businesses with its cheap land and labor, as well as its vast domestic market. These advantages, however, are disappearing as it moves into a new stage of development. Taiwanese businesspeople cannot safely and steadily promote their business in China due to slack law enforcement and various political factors. Beijing's recent moves to put down "green" businesses provide such an example. Thus, the unexpected management costs are getting higher when investing in China.
The successful stories of many traditional businesses in Taiwan show that restructuring and innovation are key to maintaining a successful business. Since Taiwan has developed a sound investment environment, Taiwanese businesses should follow such a trend, returning to Taiwan like mature salmon returning to their spawning grounds. Placing their priority in upgrading their businesses, they should beware of being misled by malicious banks and digging a hole from which they can not escape.
It is employment pass renewal season in Singapore, and the new regime is dominating the conversation at after-work cocktails on Fridays. From September, overseas employees on a work visa would need to fulfill the city-state’s new points-based system, and earn a minimum salary threshold to stay in their jobs. While this mirrors what happens in other countries, it risks turning foreign companies away, and could tarnish the nation’s image as a global business hub. The program was announced in 2022 in a bid to promote fair hiring practices. Points are awarded for how a candidate’s salary compares with local peers, along
China last month enacted legislation to punish —including with the death penalty — “die-hard Taiwanese independence separatists.” The country’s leaders, including Chinese President Xi Jinping (習近平), need to be reminded about what the Chinese Communist Party (CCP) has said and done in the past. They should think about whether those historical figures were also die-hard advocates of Taiwanese independence. The Taiwanese Communist Party was established in the Shanghai French Concession in April 1928, with a political charter that included the slogans “Long live the independence of the Taiwanese people” and “Establish a republic of Taiwan.” The CCP sent a representative, Peng
Japan and the Philippines on Monday signed a defense agreement that would facilitate joint drills between them. The pact was made “as both face an increasingly assertive China,” and is in line with Philippine President Ferdinand Marcos Jr’s “effort to forge security alliances to bolster the Philippine military’s limited ability to defend its territorial interests in the South China Sea,” The Associated Press (AP) said. The pact also comes on the heels of comments by former US deputy national security adviser Matt Pottinger, who said at a forum on Tuesday last week that China’s recent aggression toward the Philippines in
The Ministry of National Defense on Tuesday announced that the military would hold its annual Han Kuang exercises from July 22 to 26. Military officers said the exercises would feature unscripted war games, and a decentralized command and control structure. This year’s exercises underline the recent reforms in Taiwan’s military as it transitions from a top-down command structure to one where autonomy is pushed down to the front lines to improve decisionmaking and adaptability. Militaries around the world have been observing and studying Russia’s war in Ukraine. They have seen that the Ukrainian military has been much quicker to adapt to