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Capital outflows will rise after an ECFA: activists

Labor rights activists and business leaders with experience working in China agree that signing a trade agreement between Taiwan and China would speed up capital outflow from the nation, but their opinions differ on solving Taiwan’s unemployment problem.

A proposed economic cooperation framework agreement (ECFA) with China “would speed up outflow of domestic capital and the exodus of businesses and it will not solve the unemployment problem,” Victims of Investment in China Association (VICA) president William Kao (高為邦) said.

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China's honeymoon over, activist says

Both Google’s threat to withdraw from the Chinese market and the reaction of Western countries to the heavy sentence handed down to Chinese dissident Liu Xiaobo (劉曉波) may be signs that the honeymoon period between the West and China has ended, Chinese democracy activist Wang Dan (王丹) said yesterday.

Wang made the remarks at a press conference held in Taipei attended by a number of political activists voicing their support for Google and for Liu.

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Newsflash

Citing insufficient proof, the Taiwan District Court yesterday acquitted former president Chen Shui-bian (陳水扁) and his wife, Wu Shu-jen (吳淑珍), of charges that they laundered money and took bribes from bankers in exchange for help manipulating bank mergers.

Nineteen co-defendants were also cleared of charges of money laundering, breach of trust and insider trading because of a lack of proof, Judge Chou Chan-chun (周占春) said yesterday afternoon.