On March 18, the US-China Economic and Security Review Commission (USCC) held a hearing on recent economic, political and military developments between Taiwan and China and their implications for the US. A broad range of important issues was raised, but one is of utmost interest: the proposed economic cooperation framework agreement (ECFA) between Taiwan and China.
While trade agreements between countries are commonplace, this one has some complex elements: It will be an agreement between two “entities” (for lack of a better term) which officially do not recognize each other’s sovereignty.