On Monday, the TAIEX fell 244 points. It's not difficult to fathom that recent political instability has led to poor stock performance, but the decline in shares has also spawned conspiracy theories. The Democratic Progressive Party (DPP) believes the opposition parties' mobilization to recall the president and topple Premier Su Tseng-chang's (
Legislative Speaker Wang Jin-pyng (王金平) held cross-party talks on whether to hold an extraordinary legislative session to review some urgently needed bills. Legislators from ruling and opposition parties have agreed to the session, but are split over which bills should be given priority. DPP legislators hope to prioritize budget bills related to people's livelihoods and the economy, while opposition legislators want to prioritize legislation related to the presidential recall campaign and direct links. Given this deep political chasm, the session could simply provide another occasion for pointless political bickering.
The insider-trading case involving Chen's son-in-law Chao Chien-ming (趙建銘) has attracted huge political and media interest. Every development stirs more controversy. Whether Chao is implicated in the scandal or not, the case will have serious implications for the nation's political scene. Nevertheless, the seemingly endless coverage of it is surely abnormal.
The investigation into Chao's case is about to come to a close. The prosecutor will decide whether to present an indictment against Chao. But we cannot start discussing what legal and political responsibility Chen must bear until Chao is found guilty of the charges presented, or Chen and his family members are implicated. Prior to this, any attempt to force the resignation of the premier or recall the president is unwise and will likely plunge the nation into further turmoil.
While the People First Party (PFP) is planning to unseat Chen, the Chinese Nationalist Party (KMT) is taking aim at the Cabinet. Since recalling the president requires the approval of two-thirds of legislators, the KMT thinks it doesn't have the numbers. However, the pan-blues do possess enough legislative seats to force the resignation of the Cabinet. If Chen decided to dissolve the legislature in response, this would force an election, which under the Constitution, would be under the new "single-district, two-vote" system. That means half the legislators would be out of a job. While neither KMT nor PFP legislators desire this, the result would be worse for the PFP, which would likely dissolve completely, allowing the KMT to dislodge both of its political rivals in one go. But, unable to put its ideal plan into action, the KMT has settled on launching a petition to recall the president, so that it does not lose support to the PFP.
The scandals surrounding Chen's entourage and his family are extremely regrettable. It is imperative that law enforcement officials conduct a thorough investigation into all the allegations and find out who is responsible. The public should remain cool and not give politicians an opportunity to engage in further strife. While the recall proposal can be discussed at the special legislative session, issues involving people's livelihoods should top the agenda. Otherwise, contention over the recall is likely to overwhelm all other bills, rendering a special session pointless.
Concerns that the US might abandon Taiwan are often overstated. While US President Donald Trump’s handling of Ukraine raised unease in Taiwan, it is crucial to recognize that Taiwan is not Ukraine. Under Trump, the US views Ukraine largely as a European problem, whereas the Indo-Pacific region remains its primary geopolitical focus. Taipei holds immense strategic value for Washington and is unlikely to be treated as a bargaining chip in US-China relations. Trump’s vision of “making America great again” would be directly undermined by any move to abandon Taiwan. Despite the rhetoric of “America First,” the Trump administration understands the necessity of
In an article published on this page on Tuesday, Kaohsiung-based journalist Julien Oeuillet wrote that “legions of people worldwide would care if a disaster occurred in South Korea or Japan, but the same people would not bat an eyelid if Taiwan disappeared.” That is quite a statement. We are constantly reading about the importance of Taiwan Semiconductor Manufacturing Co (TSMC), hailed in Taiwan as the nation’s “silicon shield” protecting it from hostile foreign forces such as the Chinese Communist Party (CCP), and so crucial to the global supply chain for semiconductors that its loss would cost the global economy US$1
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