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Tsai Ing-wen needn’t apologize: Lee

Former president Lee Teng-hui (李登輝) yesterday said Democratic Progressive Party (DPP) Chairperson Tsai Ing-wen (蔡英文) did not need to apologize for the controversy caused by her pension savings account that provides an 18 percent preferential interest rate.

Lee said reform of the system must be fair and just and the focus must be on the system, rather than on individuals collecting the dividends.

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China’s Hu upbeat, resists US pressure on currency

Chinese President Hu Jintao (胡錦濤) urged an end to a “zero sum” Cold War relationship with the US and proposed new cooperation, but resisted US arguments about why China should let its currency strengthen.

Indeed, in a sign that the future of the US currency continues to concern the most senior levels of the Chinese government, he said the US dollar-based international currency system is a “product of the past.”

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Newsflash

The Inter-Parliamentary Alliance on China (IPAC) yesterday urged democracies to support Taiwan, rearrange supply chains and impose sanctions on Chinese officials, a day before the opening of the 20th National Congress of the Chinese Communist Party (CCP).

Chinese President Xi Jinping (習近平) is expected to secure a third term in power, showing that “the CCP has no intention of moderating its belligerent policies at home or abroad,” the international group of lawmakers wrote in a news release.