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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


Democratic Progressive Party lawmakers call for the cessation of construction on the Fourth Nuclear Power Plant in Gongliao District, New Taipei City, during a meeting of the Economic Committee yesterday at the Legislative Yuan in Taipei.
Photo: CNA

Motions demanding that state-owned Taiwan Power Co (Taipower, 台灣電力公司) suspend construction of the Fourth Nuclear Power Plant in New Taipei City’s (新北市) Gongliao District (貢寮) and rejecting the company’s budget proposal for the year were passed yesterday by the legislature’s Economics Committee.

The motions, initiated by Democratic Progressive Party (DPP) lawmakers, shot down Taipower’s plan to spend NT$11.7 billion (US$392.99 million) on the plant this year, including NT$10.7 billion of construction work that has already been outsourced.