The Democratic Progressive Party (DPP) yesterday blasted President Ma Ying-jeou (馬英九) over his comment that Taiwan’s national debt was a “nonissue” and said the party opposed Ma’s intention to raise the debt ceiling.
“Ma’s comment reflects his ignorance and incompetence as government finances have deteriorated under his leadership. Taiwan will not have the EU to bail it out before it goes over the financial cliff,” DPP spokesperson Lin Chun-hsien (林俊憲) told a press conference.
Ma said in the Chinese Nationalist Party’s (KMT) Central Standing Committee meeting on Wednesday that the nation should raise its debt ceiling and government debt “is not something to be afraid of as we can afford to borrow more.”
“[Those debt-ridden countries] are alive and kicking with debt ceilings of 70 percent [of their GDP] and even 200 percent,” Ma said.
Government debt has risen sharply since Ma took office in 2008, Lin said, adding that the accumulated debts during Ma’s five years in office reached NT$1.72 trillion (US$58.4 billion), while the DPP administration’s accumulated government debt from 2000 until 2008 was NT$1.3 trillion.
The Ministry of Economic Affairs has fined Taobao NT$1.2 million (US$36,900) for advertisements that exceeded its approved business scope and ordered the Chinese e-commerce platform to make corrections in the first half of this year or its license would be revoked. Lawmakers have called for stricter supervision of Chinese e-commerce platforms and more stringent measures to prevent China from laundering its goods through Taiwan as US President Donald Trump’s administration cracks down on origin laundering. The legislature’s Finance Committee yesterday met to discuss policies to prevent China from dumping goods in Taiwan, inviting government agencies to report on the matter. Democratic Progressive Party
Taiwan and its Pacific ally Tuvalu on Tuesday signed two accords aimed at facilitating bilateral cooperation on labor affairs, according to Taiwan’s Ministry of Foreign Affairs (MOFA). The governments inked two agreements in Taipei, witnessed by Foreign Minister Lin Chia-lung (林佳龍) and visiting Deputy Tuvaluan Prime Minister Panapasi Nelesone, MOFA said in a news release. According to MOFA, the agreements will facilitate cooperation on labor issues and allow the two sides to mutually recognize seafarers’ certificates and related training. Taiwan would also continue to collaborate with Tuvalu across various fields to promote economic prosperity as well as the well-being of their
Taiwan would welcome the return of Honduras as a diplomatic ally if its next president decides to make such a move, Minister of Foreign Affairs Lin Chia-lung (林佳龍) said yesterday. “Of course, we would welcome Honduras if they want to restore diplomatic ties with Taiwan after their elections,” Lin said at a meeting of the legislature’s Foreign Affairs and National Defense Committee, when asked to comment on statements made by two of the three Honduran presidential candidates during the presidential campaign in the Central American country. Taiwan is paying close attention to the region as a whole in the wake of a
NEW WORLD: Taiwan is pursuing innovative approaches to international relations through economics, trade and values-based diplomacy, the foreign minister said Taiwan would implement a “three-chain strategy” that promotes democratic values in response to US tariffs, Minister of Foreign Affairs Lin Chia-lung (林佳龍) said. Taiwan would aim to create a “global democratic value chain,” seek to capitalize on its position within the first island chain and promote a “non-red supply chain,” Lin was quoted as saying in the ministry’s written report to the Legislative Yuan submitted ahead of the legislature’s Foreign Affairs and National Defense Committee meeting slated for today. The Ministry would also uphold a spirit of mutual beneficial collaboration, maintaining close communication and consultations with Washington to show that Taiwan-US cooperation
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