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Wow!So fast and so desicive January 16, 2016

Posted by hslu in China, Election, Taiwan.
Tags: , , , , ,

I have said it to several people a few years ago that DDP will one day take over the power from KMT. It was just a matter of time.

It happened today, 2016-01-16, but I didn’t expect it to come so fast and so decisive.



Initially I envisioned a gradual process by which the DDP would expand its power from its base in the south of the island, slowly worked its way to the north in 2 or 3 election cycles, blanketed the rural areas, bypassed Taizhong, Xinzhu and stoped at the outskirts of Taipei.

Then came the World Financial Crisis of 2008 followed by the Great Recession of 2009. After several runs of QE’s, led by the U.S. Federal Reserve, the entire world got flipped over from below its back. Chinese call it ‘翻身了.’ What were created by the central banks was the rise of stock markets and skyrocketing prices of fixed assets all over the world.

However, behind the facade of smiling stock investors and rapid rise of housing developments was an unprecedented level of inequality, disappearing middle class and untold suffering of the poor. Chinese call this:’窮者越窮 富者越富’。

Taiwan was no exception and in many ways fared much worse than other countries. The reason was that 馬英九 and his administration failed to address many structural problems faced the island nation and relied solely on cross strait trades and tourists from China to pop up the service dominated economy of Taiwan. When 馬英九 wanted to push the relationship with China further in 2014, young people took their complaints to the streets and demanded the government back down. In a way, that was the last straw which broke the back of 馬英九 and KMT.

What we are witnessing in Taiwan, the rise of DDP, isn’t different from what have taken place in many parts of the world: Arab Spring, throw the scoundrels out with the bath water and wholesale charges of governments in many parts of the world.

馬英九 is a victim of the time: financial crisis, QEs and Great Recession started his downfall.

Finally, his failed leadership style,  his dull and uninspising personsl traits, his ineffective management skill, his lack of wisdom, his bottom of the well vision, his failure to right the wrongs of Taiwan’s economy and, finally, his ethnicity accelerated the demise of KMT and contributed to his personal humiliation and his infamy after he leaves the office.

A chapter in China’s history has closed. 馬英九 accelerated its closure and bought the KMT down to its knees with him.

The next chapter will be an unfamiliar one to me. I hope it won’t be tumultuous and chaotic.



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