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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

A Taipei District Court judge who found former president Chen Shui-bian (陳水扁) and his wife, Wu Shu-jen (吳淑珍), not guilty in a bank merger case was indicted yesterday by Taipei prosecutors on suspicion of negligently leaking the name of a witness to the public.

Judge Chou Chan-chun (周占春) and his secretary, Liu Lee-ying (劉麗英), were charged with malfeasance for being negligent in the disclosure of a witness’ name who was involved in a case involving illegal drug production and transportation heard by Chou, Taipei prosecutors said.