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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


Members of the Ill-gotten Party Assets Settlement Committee attend a hearing at the Executive Yuan in Taipei yesterday.
Photo: Peter Lo, Taipei Times

The National Women’s League yesterday denied that it was an affiliate of the Chinese Nationalist Party (KMT) and that it exploited its connection to the party to secure financial aid and tax privileges, while the KMT accused the government of fabricating evidence in a bid to prove the alleged links.