Taiwan’s economy should be built to resemble a vessel that is safe and durable like Noah’s Ark, rather than a Titanic that stresses speed and size and ignores the fundamentals, former president Lee Teng-hui (李登輝) wrote in a statement yesterday.
Lee used the analogy to highlight his analysis of Taiwan’s economy in a seminar, organized by Taiwan Advocates, a think tank founded by the former president, which focused on national economic development.
Lee’s daughter, Annie Lee (李安妮), read the speech on behalf of the former president, who was fighting a mild case of the flu and was unable to attend.
“There are two pillars in Taiwan’s national economic security — an identity built upon economic and trade independence and a sustainable momentum of growth built upon technological advantages,” the 89-year-old wrote.
In the face of the threats posed by the global financial crisis, he wrote, Taiwan should reconsider the subordination of the banking economy to the real economy, reduce its dependence on China and promote agricultural and energy independence.
Lee Teng-hui said the agriculture and manufacturing sectors should be the main drivers of the economy, with the banking system secondary.
The current economic model of transferring most of the nation’s manufacturing overseas, particularly to China, is like “selling souls to the devil” and only benefits large corporations, he wrote.
Agriculture and renewable energy, he said, could be Taiwan’s key sectors as both provide job opportunities and promote economic growth.
Lee concluded by saying that the government should not stress trade liberalization and exports while ignoring the importance of national economic security and independent agriculture and energy.
The government should protect people’s basic standard of living in the future and restore people’s confidence on the market economy, he said.
The conference, which discussed Taiwan’s challenges in the current global economic situation, was the first of three seminars organized by the Taiwan Advocates that focus on Taiwan’s economic development.
Speaking on the sidelines of the conference, Annie Lee told reporters why her father said “there was no need for the Democratic Progressive Party to call for Taiwanese independence.”
“The establishment of national identity has been one of the most important concepts for my father. The necessity of the call for independence is really worth thinking about,” she said.
The most important task for the government is providing well-being and stability for the people, she added.
“There would be no country without the people,” she said.
‘CROWN JEWEL’: Washington ‘can delay and deter’ Chinese President Xi Jinping’s plans for Taiwan, but it is ‘a very delicate situation there,’ the secretary of state said US President Donald Trump is opposed to any change to Taiwan’s “status quo” by force or extortion and would maintain that policy, US Secretary of State Marco Rubio told the Hugh Hewitt Show host on Wednesday. The US’ policy is to maintain Taiwan’s “status quo” and to oppose any changes in the situation by force or extortion, Rubio said. Hewitt asked Rubio about the significance of Trump earlier this month speaking with Taiwan Semiconductor Manufacturing Co (台積電) chairman C.C. Wei (魏哲家) at the White House, a meeting that Hewitt described as a “big deal.” Asked whether the meeting was an indication of the
‘RELATIVELY STRONG LANGUAGE’: An expert said the state department has not softened its language on China and was ‘probably a little more Taiwan supportive’ China’s latest drills near Taiwan on Monday were “brazen and irresponsible threats,” a US Department of State spokesperson said on Tuesday, while reiterating Washington’s decades-long support of Taipei. “China cannot credibly claim to be a ‘force for stability in a turbulent world’ while issuing brazen and irresponsible threats toward Taiwan,” the unnamed spokesperson said in an e-mailed response to media queries. Washington’s enduring commitment to Taiwan will continue as it has for 45 years and the US “will continue to support Taiwan in the face of China’s military, economic, informational and diplomatic pressure campaign,” the e-mail said. “Alongside our international partners, we firmly
KAOHSIUNG CEREMONY: The contract chipmaker is planning to build 5 fabs in the southern city to gradually expand its 2-nanometer chip capacity Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, yesterday confirmed that it plans to hold a ceremony on March 31 to unveil a capacity expansion plan for its most advanced 2-nanometer chips in Kaohsiung, demonstrating its commitment to further investment at home. The ceremony is to be hosted by TSMC cochief operating officer Y.P. Chyn (秦永沛). It did not disclose whether Premier Cho Jung-tai (卓榮泰) and high-ranking government officials would attend the ceremony. More details are to be released next week, it said. The chipmaker’s latest move came after its announcement earlier this month of an additional US$100 billion
COUNTERING THE PLA: While the US should reinforce its relations with partners and allies, Taiwan must invest in strengthening its defenses as well, Phillip Davidson said If influence in the Indo-Pacific region is one of the US’ core interests, then Taiwan serves as a cornerstone of US economic and security influence in the region, former US Indo-Pacific Command commander admiral Phillip Davidson said on Thursday. “China’s ... strategy is to supplant the US leadership role in the international order ... and they’ve long said ... that they intend to do that by 2050,” Davidson told the National Review Institute’s Ideas Summit in Washington. Davidson said he had previously told US Senate hearings on China’s military activities and possible threats in the Indo-Pacific region that a Chinese invasion of
RSS