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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

Indian policemen try to extinguish fire on Sherab Tsedor, a Tibetan resident of New Delhi, outside the Chinese Embassy, New Delhi, November 4, 2011.

DHARAMSHALA, November 4: A 25 year old Tibetan refugee living in India, set himself on fire, in front of the Chinese Embassy in the Indian capital New Delhi today.

Indian policemen on security at the Chinese Embassy tried to extinguish the fire on Sherab Tsedor, a Tibetan activist living in New Delhi, witnesses said. Sherab is currently admitted in a nearby hospital.