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Health minister resigns over premium dispute

Department of Health Minister Yaung Chih-liang (楊志良) tendered his resignation in a shock move yesterday, saying he could not fulfill Premier Wu Den-yih’s (吳敦義) request that 75 percent of the insured be exempted from a proposal to increase national health insurance premiums.

Wu rejected Yaung’s resignation late last night, however. Executive Yuan spokesman Johnny Chiang (江啟臣) said the premier hoped Yaung would stay in the position.

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China sees bank risks in local-government financing

Chinese central bank Governor Zhou Xiaochuan (周小川) said that local-government financing vehicles using land as collateral may pose risks for the nation’s banks.

“When land prices rise, there may be over-valuation of land,” Zhou said at a press briefing in Beijing yesterday. “In the future, if land prices fall, there may be a difference in the assessment of the loan.”

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Newsflash

On May 20, former chairman of the American Institute in Taiwan Richard Bush and the head of the Taipei Economic and Cultural Representative Office in Washington, Jason Yuan (袁健生), hosted a seminar during an academic conference to mark the centennial of the October 1911 Revolution in the Republic of China (ROC) at the Brookings Institution in the US capital.

Bush took the opportunity to remind those people in attendance that the US had broached the prickly issue of Taiwan and the Republic of China back in the 1950s and 1960s with the concepts of “New Country” (the founding of a new country) and “two Chinas.”

He then said that the concept of “two Chinas” that was proposed by the US government decades ago could still be applied to cross-strait relations today, but this would only be possible if Beijing would accept it.