Taiwan Today

President Ma Ying-jeou said Jan. 21 that Taiwan has left its economic doldrums behind and is well on its way to an economic recovery. The president, speaking at a year-end party hosted by the Mount Jade Science and Technology Association, said that the recovery will appear V-shaped. He noted that he had a talk with Vice President Vincent Siew, an expert in economics, during which the two discussed if the recovery would be V-, U-, or L-shaped. “Siew said ‘of course it will be V-shaped,’” Ma said. Ma also said he would like to see an economic recovery with “Taiwanese characteristics,” meaning that it should have a low unemployment rate, be accompanied by innovation and emphasize the importance of innovation. The president conceded that the latest unemployment rate of 5.8 percent is still too high, but said he hoped the December unemployment rate, due to be released Jan. 22, would show an improvement. Innovation should be the driving force for the economic recovery, Ma said. A central component of his policy has been to try to make Taiwan into an innovation center of the world, he noted. As an example of the nation’s innovative spirit, Ma cited the performance of the Taiwan team at the iENA Exhibition in Nuremberg, Germany, last November, when one out of every four gold medals was captured by Taiwan. Another example cited by the president occurred when he was visiting Fangyuan Township in central Taiwan’s Changhua County last week to see how its aquafarmers were coping with the cold spell. Ma said he was pleased to learn that the aquafarmers had invented brand new ways of raising fish stocks. “The innovative spirit of Taiwanese businesses constantly surprises us. When the regulations of the Cultural Creativity Act are drafted, both traditional and cutting-edge industries should be included,” the president said. Industries should also pay attention to the green economy, Ma said. In 2008, he noted, Taiwan reduced its carbon dioxide emission figures by 4 million metric tons, to 2005 levels. The policy of providing reduced rates to those who reduce their electricity consumption has also had a good effect. Last year’s electricity consumption was 6.3 billion kilowatts less than the year before, the equivalent to about all the electricity used by Tainan City in southern Taiwan in two years, Ma noted. As a responsible member of the global village, Taiwan will continue to carry out carbon reduction measures, the president said. Solutions can be found if Taiwan is isolated diplomatically; but if the nation is economically isolated, it will be hard for it to avoid becoming marginalized. To prevent this from happening, Taiwan must integrate itself into the broader Asian economy. In the past, mainland China has prevented Taiwan from signing free trade agreements with other nations. Signing an economic cooperation framework agreement with Beijing will solve this problem at its very root, the president said. (HZW)