KMT hopefuls assess odds for chairperson electionBy Shih Hsiao-kuang and Jake Chung / Staff reporter, with staff writerThe four camps of the candidates in the Chinese Nationalist Party (KMT) chairperson election yesterday gave assessments of their prospects in today’s vote. Chu spokesman Ling Tao (凌濤) said that Chu’s campaign message is clear — the KMT must prosper in next year’s general elections and win the 2024 presidential election. Chang spokesman Ho Chi-sheng (何啟聖) said that Chang’s campaign was confident about the support it has generated, but is not certain how many votes it would receive. Cho spokesman Wu Ming-sheng (吳明聖) said that Cho sought to rally the support of all 370,000 KMT members. The KMT National Congress today is to hold elections for party delegates alongside the chairperson vote.

Exports post best August performanceMADE IN TAIWAN: The share of export orders for products made overseas versus those made in local factories decreased by 4.4 percent year-on-year to 49.3 percentBy Angelica Oung / Staff reporterTaiwan’s export orders expanded 17.6 percent year-on-year to US$53.5 billion last month, the best August performance ever, the Ministry of Economic Affairs said yesterday. On a monthly basis, export orders dropped 3.2 percent from US$55.3 billion. The ministry expects export orders to rise again this month, with growth coming from information and communications technology (ICT) and electronic products. “We predict demand driven by the global recovery and strong commodity prices will keep supporting strong export orders,” Huang said. While the 18-month winning streak for Taiwanese export orders might seem impressive, it is far from record breaking, she added.

Supply disruption cuts Nike forecastBloombergNike Inc lowered its sales outlook as production and shipping delays hobbled the company’s efforts to meet strong demand for shoes and athletic wear. Sales this quarter could fall as factory closures in Vietnam prevent Nike from keeping up with consumer demand, the world’s largest athletic wear company said on Thursday. That means full-year growth would be in the mid-single digits rather than the low double digit percentage rate Nike targeted earlier. Nike does not expect the facilities to reopen until October, and they could require several months to ramp up manufacturing. Cuts in wholesale distribution have put renewed focus on Nike’s direct-to-consumer channel, which grew 25 percent this quarter on a constant-currency basis.

A deadline for paying US$83.5 million in bond interest passed without remark from Evergrande, and bondholders had not been paid nor heard from the company, two people familiar with the situation told Reuters. Evergrande appointed financial advisers and warned of default last week, and world markets fell heavily on Monday amid fears of contagion, though they have since stabilized. Evergrande has promised to prioritize such investors and resolved one coupon payment on a domestic bond this week. However, it has said nothing about the offshore interest payment that was due on Thursday or a US$47.5 million payment due next week. Bloomberg Law also reported that regulators had asked Evergrande to avoid a near-term default, citing unnamed people familiar with the matter.

After Washington broke off formal diplomatic relations with Taipei in 1979, the Executive Yuan established the Coordination Council for North American Affairs to handle non-official relations with the US. Allowing TECRO to be renamed the Taiwan Representative Office is therefore right and proper, and would correct the oddity that is its current name. In December last year, 78 US representatives wrote a letter to then-US secretary of state Mike Pompeo requesting that he approve the name change of Taiwan’s representative office. In May, a bipartisan group of US representatives proposed the “Taiwan diplomatic review act,” which contained a clause on rectifying the name of Taiwan’s representative office. If Washington were to take the lead in allowing the renaming of Taiwan’s representative office, other nations such as Japan would surely follow suit.

Huaku scores NT$4.49bn Nangang development dealBy Crystal Hsu / Staff reporterHuaku Development Co (華固建設) yesterday won the auction for an 875 ping (2,887.5m2) plot in Taipei’s Nangang District (南港) at NT$4.49 billion (US$161.67 million). The price of NT$5.13 million per ping is a record for the area, as the district evolves into a first-tier area for property development. New buildings being constructed in Taipei’s Nangang District are pictured on Aug. 28. Photo: Hsu Yi-ping, Taipei TimesSinyi Realty Inc (信義房屋) head researcher Tseng Ching-der (曾敬德) said that the deal showed that Huaku is upbeat about property demand and prices in the district. Huaku is expected to ask NT$1.1 million per ping amid favorable development terms, real-estate consultancy REPro Knight Frank said.

Minister Without Portfolio John Deng, center, and other government officials attend a news conference in Taipei yesterday. Photo: Lee Hsin-fang, Taipei TimesThe 11-member trade bloc recommended that Taiwan rush its application after China also applied for membership on Thursday last week. “We can expect a gain of about 2 percent to our GDP if we join the CPTPP, and a negative impact of 0.56 percent if we don’t,” he said. Kung’s modeling assumes that the UK, South Korea, Thailand, Indonesia and the Philippines would eventually join the trade bloc, even if Taiwan does not. “Our models show that CPTPP membership would hit agriculture, and the automotive and auto parts sectors the hardest,” Kung said.

COVID-19: Berlin pushes WHO head’s re-election bid: diplomatsReuters, GENEVA, Switzerland, and BERLINGermany is seeking support from other EU members to ensure a second term for WHO Director-General Tedros Adhanom Ghebreyesus, but African states have yet to show their cards, government sources and diplomats said on Wednesday. WHO Director-General Tedros Adhanom Ghebreyesus, second right, visits a 2022 FIFA World Cup residential complex that houses Afghan evacuees in Doha on Sunday. One African diplomat at the African Union said that the appointment of a new head of the WHO had not been discussed among member countries. However, African countries are expected to support Tedros’ re-election, and the senior diplomat was not aware of any other candidates from Africa or another region. It would be complicated for an African country other than his country of origin to take the initiative,” he said.

Agency cuts China growth forecast on property woesEVERGRANDE ANXIETY: Fears over the real-estate giant’s collapse caused markets to tumble and are contributing to a decline in the property sectorAFP, BEIJINGFitch Ratings yesterday cut its growth forecast for China’s economy this year, citing a slowdown in the country’s colossal property sector, which is facing headwinds over faltering real-estate giant Evergrande Group (恆大集團). “Housing starts are falling and financial pressures are weighing on real-estate investment,” Fitch said in its latest report. “Residential investment directly accounts for around 10 percent of GDP, and property activity has large spillovers to other industries,” it added. A State Council meeting he chaired underlined measures to promote consumption, stabilize commodity prices, and maintain growth of foreign investment and trade. Chinese Estates said it had already sold 108.91 million shares, or 0.82 percent, of Evergrande’s issued share capital between Aug. 30 and Tuesday for HK$246.5 million (US$31.67 million).

America will become the arsenal for vaccines as we were the arsenal for democracy in World War II,” Biden said at the summit, which was held virtually at the White House. The pledge brings the total US commitment of donated vaccines to 1.1 billion — more than the rest of the world combined. A child reacts after receiving a dose of the Sinopharm COVID-19 vaccine at El Salvador’s main vaccination center in San Salvador on Wednesday. Photo: AFP“We’ve already shipped 160 million of these doses to 100 countries,” Biden said. After he spoke, Spain announced at the UN General Assembly in New York that it was boosting its commitment to 30 million vaccines, while Japan said it would increase its contribution to 60 million.

Asian Development Bank raises its growth forecastStaff writer, with CNAThe Asian Development Bank (ADB) on Wednesday raised its forecast for Taiwan’s GDP growth this year to 6.2 percent, saying that the country’s economic momentum is expected to continue into the second half of the year. In its latest Asian Development Outlook report, the ADB said the new forecast was an upgrade from its estimate in April of 4.6 percent growth, but it maintained its projected 3 percent growth for next year. In addition, capital formation expanded by 8.9 percent in the first six months, with massive investments in machinery, transportation equipment, 5G network development and infrastructure for green energy, among other areas, the bank said. “Growth will likely continue for the rest of this year,” the bank said, citing increased manufacturing activity in July, strong growth in industrial production, and solid export orders. The downside risks include possible new outbreaks of variants of SARS-CoV-2 and delays in the country’s vaccine rollout, it said.

No fruit double standard, says agriculture headBy Shelley Shan / Staff reporterThe government does not have a double standard for China and New Zealand when responding to bans on Taiwanese fruit, Council of Agriculture (COA) Minister Chen Chi-chung (陳吉仲) said yesterday, adding that anyone making such an accusation is ignorant of international trade regulations. Photo: CNAThose who have accused the government of having double standards are completely ignorant of regulations governing international trade, Chen wrote on Facebook. We seek to enforce inspection and quarantine measures based on scientific evidence, while minimizing damage to bilateral trade,” Chen said. “However, China has been ambushing us by unilaterally banning imports of pineapples, wax apples and custard apples, which all took effect the day after the announcement. An undated photograph shows wax apples in Kaohsiung’s Liouguei District.

HP, Procter & Gamble join companies pledging to reduce emissions by 2040AP, BERLINComputer maker HP Inc, consumer goods business Procter & Gamble Co and coffee capsule company Nestle Nespresso SA have joined a corporate pledge to sharply cut their greenhouse gas emissions over nearly two decades. The Climate Pledge, a grouping of companies and organizations spearheaded by Amazon.com Inc, said on Monday that it has signed up 86 new members for its voluntary measures. Photo: AFPOther new members include telecom BT PLC, Asos PLC, Salesforce.com Inc, truck maker Scania AB and the Selfridges department store chain. That means paying for measures to ensure as many emissions are absorbed by then as the companies continue to emit. Kat Kramer, head of climate policy at the anti-poverty campaign group Christian Aid, welcomed the decision by big players in the private sector to aim for net-zero emissions.

Romeo Beckham’s debut impresses Inter Miami coachAFP, MIAMIInter Miami CF coach Phil Neville believes David Beckham’s son Romeo has the potential to forge a career in professional soccer following his debut in Florida. Romeo Beckham played in his first professional game on Sunday after starting for Inter Miami’s sister team Fort Lauderdale CF. The 19-year-old played 79 minutes in a 2-2 draw with South Georgia Tormenta and impressed Inter Miami boss Neville, despite having only 19 touches in the match. David Beckham, left, owner and president of soccer operations for Inter Miami CF, watches from the stands with his son Romeo Beckham before an MLS match against Toronto in Fort Lauderdale, Florida, on Aug. 21. He had been training with the team and occasionally Inter Miami prior to that.

‘Real’ full moon shines on festival night‘TECHNICALITY’: The full moon was at 7:55am, but the Taipei Astronomical Museum said it technically remained a ‘real’ full moon when it rose again at nightStaff writer, with CNAThe Mid-Autumn Festival had a “real” full moon, the first time the astronomical categorization has fallen on the day of the festival since 2013, the Taipei Astronomical Museum said yesterday. The moon sets behind the Kaohsiung Lighthouse in Cijin District on the Mid-Autumn Festival yesterday morning. Photo: Chang Chung-yi, Taipei TimesTherefore, a “real” full moon can take place from the 14th to the 17th of a lunar month, with 16th being the most likely, the museum said. The last time a Mid-Autumn Festival coincided with a real full moon was in 2013, the museum said. This year, the exact time of the full moon was at 7:55am yesterday, but the museum said it technically remained a “real” full moon when it became visible again at 6:18pm.