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US-Taiwan FTA moving up list

The US Congress is expected to consider a new proposal for a free-trade agreement (FTA) with Taiwan this year, a US-based organization has said.

While it remains unlikely that a bill will pass this year, the tactic is to create enough momentum to give it a fighting chance next year.

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Stand up to China, think tank urges

The Taiwan Thinktank yesterday urged political parties to pay attention to China’s democratic development and refrain from falling into an “economic diplomacy” trap, which it said has replaced human rights with money power.

In a report published yesterday, the think tank said China has launched “global economic diplomacy” in the attempt to expand its global domination. It has increased its investment in the eurozone and hopes to salvage the European economy and has done the same in Africa in a bid to expand its influence on that continent.

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Newsflash

Investor Marc Faber said China’s economy will slow and possibly “crash” within a year as declines in stock and commodity prices signal the nation’s property bubble is set to burst.

The Shanghai Composite Index has failed to regain last year’s high while industrial commodities and shares of Australian resource exporters are acting “heavy,” Faber said. The opening of the World Expo in Shanghai last week is “not a particularly good omen,” he said, citing a property bust and depression that followed the 1873 World Exhibition in Vienna.