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Taipei needs to expand its trade targets: US study

A new US study on Taiwan’s economy cautions that gains from current trade and investment talks with China may be limited and that Taipei needs to concentrate on internal economic restructuring and the cultivation “of new and dynamic foreign relationships beyond the straits.”

Written by Derek Scissors, a research fellow in Asia Economic Policy at the Heritage Foundation, the study says Taiwan should reform corporate taxation and the “sheltered” domestic service sector.

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Chen denies flying money overseas

Former president Chen Shui-bian’s (陳水扁) office yesterday issued a statement denying allegations that Chen had taken advantage of his overseas trips to transport cash abroad.

The statement came in response to a story published by the Chinese-language China Times yesterday that quoted Palauan President Johnson Toribiong as saying that an unidentified wire of NT$1.4 billion (US$40 million) was routed through Palau’s Pacific Savings Bank in 2005 to the US and other countries.

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Newsflash


Supporters hold signs yesterday protesting the forced eviction of the Wang family from their home in Taipei’s Shilin District.
Photo: CNA

Following overnight protests that descended into violent clashes between demonstrators and police, the Taipei City Government yesterday evicted the owners of two buildings in Shilin District (士林), demolishing their homes to make way for an urban renewal project.

The project, under which a construction firm plans to turn an old residential complex for 38 households into a 15-story high-rise apartment complex, was stalled for three years because of opposition from a family surnamed Wang (王), who had lived in two two-story apartment buildings in the area for more than a decade.