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Watch out Taiwan: Korea is leaving you behind November 14, 2014

Posted by hslu in China, Economics, Global Affair, Taipei, Taiwan.
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China and Korea have been talking about a trade deal for more than 2 years and it finally happened at the APEC summit in Beijing a few days ago.

The trade deal will eliminate 90% of import tariffs between two countries on 17 areas over the next twenty years. The free trade agreement will take effect sometime in 2015.

While Korea is signing deals with its largest trading partner to strengthen its financial positions and to secure trading advantages over Taiwan, what does Taiwan do in the mean time?

Well, a lot is going on except finding a way to counter Korea’s move.

1.   A part of Taiwan, including some students who occupied the legislature body about six months ago, are still talking about independence.

2.   KMD is still waging an all out war in the court against one of its prominent members: 王金平 because 馬英九 couldn’t take the defeat whether 馬英九 is justified in his action or not.

3.   馬英九 has finally admitted that there is no chance that 習近平 will see him at APEC. 馬英九 is still hoping to see 習近平 before he leaves the office in two years. 馬英九 has to think about his legacy and he better think fast because China may think he is a damaged good with his low approval rating in the poll

4.   Many people are focusing on mayoral election in Taipei which is coming up in less than two weeks. KMD and the central government are pouring all resources to defend KMD’s candidate in the capital city because he has been behind the de facto green candidate since the campaign began many months ago.

5.   The legislature body is still tied up like before and hope for compromise is rather slim.

6.   Most citizens are trying to keep up with the ever changing story in the news on matters much more important than the election: what is safe to eat, which oil they have been cooking their meals with for the past 5 to 10 years, where they can get refunds for the bad cooking oil they have paid for and whether they should use lard to cook their meals with.

7.   Most young couples are debating whether they should buy their first home now since the government has been fighting a war against the rising home value for the past few years.

8.   The real estate agents are suffering because fewer people are visiting their showrooms because people believe the price will drop in the near future.

Yeah, there are a lot of things which goes on in Taiwan. But I bet very few people pay attention to what Korea is doing with China.

Wait, did I mention that China is investing as much as $19.5 billion to develop China’s semiconductor industry? It was revealed in June of 2014 that China aims to turn the country into a leading semiconductor maker which will compete directly with the last remaining money-maker for Taiwan.

You better watch out, Taiwan. Although Christmas is coming, Santa Claus is leaving the town.

 

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