Taiwan Tati Cultural and Educational Foundation

US rating’s effect on Taiwan

Taipei Times Editorial

Standard & Poor’s (S&P) disputed downgrade of the US’ sovereign credit rating to an unprecedented “AA+” came as no surprise, but it still sent shockwaves because the move crushed the confidence of holders of US debt and raised the risk of a double-dip recession, given the persistent weakness in the US dollar and cautious private consumption on rising borrowing costs.

Ahead of S&P’s announcement, mounting concern about the US debt crisis wiped NT$1.21 trillion (US$41.8 billion) off local stocks by market value, with the benchmark TAIEX plummeting 5.58 percent on Friday. Stock prices are expected to be under heavy pressure this week as investors survey the scene and likely still harbor doubts about the US’ economic prospects.

Changhua farmers protest CTSP irrigation water plans

Taipei Times

Standing in front of a giant banner hanging from a water gate and emblazoned with the words “protect the water,” hundreds of farmers and farmers’ rights activists yesterday protested at the source of an irrigation channel in Changhua County’s Sijhou Township (溪州) over the Central Taiwan Science Park’s (CTSP) plans to divert water from the irrigation system.

“Water is already scarce and [the Changhua County Irrigation Association] only supplies water through irrigation channels four out of every 10 days,” Hsieh Pao-yuan (謝寶元), a farmer and president of the Alliance Against Water-Jacking by the CTSP, told the crowd. “With the CTSP planning to take more water from the irrigation channel, we Chang-hua farmers are going to be left with nothing — that is why we have to stand united and protect the water.”

KMT Leaders Display Lack of Sense of What Democracy is About

Jerome F. Keating Ph.D.

Taiwan's President Ma Ying-jeou who stumbles as he tries to maintain that the shell name of the Republic of China (ROC) is a viable entity allegedly respected in the world and the legitimate claimant of what is really "one China," will also state that he is Taiwanese whenever election time draws near. But this year he has added another claim when he stated that he is a descendant of the Yellow Emperor. Amazing of course that he traced that ancestry back through Hong Kong all the way to some 2000 plus years past. Somehow I guess he felt that if he is a descendant of the Yellow Emperor then Taiwanese should bow down and automatically elect him.

Sign an investment treaty with the US, economist says

Taipei Times

Economist Derek Scissors is urging Taiwan to diversify its international investment portfolio and seek a bilateral investment treaty with the US.

Scissors, a research fellow with the Asian Studies Center at the Washington-based Heritage Foundation, says that the US and Taiwan have an extraordinarily intense trading relationship.

With a population of 23 million, Taiwan is the US’ ninth-largest trading partner. However, excluding the microstates, it is actually the US’ third-largest trading nation on a “per person” basis.

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