Taiwan Tati Cultural and Educational Foundation

 
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Taiwan Tati Cultural and Educational Foundation

A timely calling of China’s bluff

It became the telephone call that was heard around the world; it was an earthquake that set off a world-class tsunami, and a change in atmospheric conditions that brought an unprecedented media hailstorm. Ironically, it was simply President Tsai Ing-wen (蔡英文) calling US president-elect Donald Trump to congratulate him on his victory.

However, there is much more. As the dust settles and the news wires slowly return to normal, what now becomes evident is that it is clearly time for the rest of the world to wake up and smell the coffee. Life has moved on since World War II. Taiwan has gone from a one-party state imposed by a fleeing diaspora and it now has democracy. Thus, it is time for the US and its allies to tell the Chinese emperor that as far as this democracy is concerned, he has no clothes.

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Donald Trump sets a precedent

US president-elect Donald Trump’s telephone conversation with President Tsai Ing-wen (蔡英文) on Friday last week made the headlines at home and abroad, with some accusing Trump of committing a diplomatic faux pas that rattled China, while others commended his decision to take Tsai’s call and described it as a significant landmark in Taiwan-US relations.

As political pundits and policymakers continue to debate whether it was a simple telephone call or a momentous mistake, while others try to decipher whether Trump’s move hints at the direction of his future policy in the Asia-Pacific region, one thing at least is certain: Taiwan’s diplomatic morale has been greatly boosted as a result of the historic call.

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Money-laundering bill has no teeth

Earlier this year, Mega International Commercial Bank’s New York branch was punished with a fine of US$180 million by the US Department of Financial Services for breaching the US Bank Secrecy Act and money-laundering laws. The news shocked the nation.

Taiwan’s Money Laundering Control Act (洗錢防制法) lags far behind international standards: It does not punish unsuccessful attempts at money laundering, touch on criminal liability of legal entities, its regulations on financial inspection and law enforcement are incomplete, penalties for violations are mild and reporting obligations are low. In addition, confiscation powers are inadequate, making it impossible to completely seize illegal profits.

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Trump is right, if for wrong reason

The US is all abuzz about US president-elect Donald Trump’s 10-minute phone call with President Tsai Ing-wen (蔡英文).

Surprise of surprises! Trump did one thing right, even if perhaps for the wrong reason. Yet, how unforgivingly the US media and its pundit journalists have lashed out at him for it. The US is shaking in its boots for fear the phone call will offend China.

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Newsflash

A new study published this week by Foreign Policy magazine concludes that Taiwan remains the one place in the world where China and the US “could conceivably come into direct conflict.”

Drew Thompson, director of China studies at the Nixon Center in Washington and author of the study, wrote: “Some wonder whether China and the United States are on a collision course. Unquestionably, there is deep strategic mistrust between the two countries. China’s rapid economic growth, steady military modernization and relentless nationalistic propaganda at home are shaping Chinese public expectations and limiting possibilities for compromise with other powers.”