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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


A man takes a picture of a portrait of People First Party Chairman James Soong at press conference in Taipei on Thursday at which Soong announced his presidential candidacy.
Photo: Liao Chen-huei, Taipei Times

Student activist Chen Wei-ting (陳為廷) and New Power Party legislative candidate Freddy Lim (林昶佐) joined netizens yesterday in panning comments by People First Party (PFP) Chairman and presidential candidate James Soong (宋楚瑜) on the Martial Law period as inappropriate.

Soong declared his presidential bid on Thursday and his campaign photograph showed Soong covered in mud.