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Thousands protest Chen's detention

Former president Chen Shui-bian’s (陳水扁) mother yesterday said at a protest against his detention that she was saddened by the fact that for the past two years her son has been unable to call her on Mother’s Day.

Chen Lee Shen (陳李慎) came to Taipei from Tainan to join a sit-in rally on Jinan Road calling for Chen’s release that was organized by various pro-localization groups, including some Democratic Progressive Party officials from southern Taiwan.

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China could ‘crash’ this year, top investor warns

Investor Marc Faber said China’s economy will slow and possibly “crash” within a year as declines in stock and commodity prices signal the nation’s property bubble is set to burst.

The Shanghai Composite Index has failed to regain last year’s high while industrial commodities and shares of Australian resource exporters are acting “heavy,” Faber said. The opening of the World Expo in Shanghai last week is “not a particularly good omen,” he said, citing a property bust and depression that followed the 1873 World Exhibition in Vienna.

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Newsflash

Former president Chen Shui-bian (陳水扁) yesterday said that democratic Progressive Party (DPP) Chairperson Tsai Ing-wen (蔡英文) would win the presidential election by a slim margin and propel the DPP to a legislative majority.

“Currently, the two major parties are locked in a 50-50 split for the 2012 presidential elections. The [end] result on Jan. 14 will be very close,” the imprisoned Chen wrote in his bi-weekly statement, released by members of his office.

Citing recent opinion polls, Chen said: “The DPP will still win and Tsai will become Taiwan’s first female president, given her lead of 3 to 5 percentage points [in the polls].”