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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

Legislators and academics yesterday warned that signing an economic cooperation framework agreement (ECFA) with China could potentially undermine Taiwan’s food security because the nation’s food self-sufficiency rate is alarmingly low, about 30 percent, and Chinese suppliers of agricultural products would be able to influence Taiwan’s food markets.

They said unless efforts are made to improve the nation’s food self-sufficiency, the trade pact the Chinese Nationalist Party (KMT) government is seeking to sign with Beijing next month would mean China would gain significant control over wheat and corn imports and prices of wheat-derived foodstuffs, animal feed and meat products, putting Taiwan’s food security at risk.