China’s credit rating downgraded over debt fears
China’s credit rating downgraded over debt fearsAFP, BEIJINGRatings agency Moody’s yesterday downgraded the outlook on China’s credit rating to “negative” from “stable” on the back of rising debt in the world’s second-largest economy. The move “reflects the increased risks related to structurally and persistently lower medium-term economic growth and the ongoing downsizing of the property sector,” it added. China’s vast property sector is mired in a deep debt crisis, with some of the nation’s biggest developers owing hundreds of billions of dollars and facing bankruptcy. Construction and real estate account for about a quarter of China’s GDP. The Chinese Ministry of Finance said it was “disappointed with Moody’s decision.”“Moody’s concerns about China’s economic growth prospects and fiscal sustainability are unnecessary,” a ministry spokesperson said, adding that China’s macroeconomy has continued to recover.
Source:Taipei Times
December 05, 2023 17:08 UTC
Bathing in glory
Chinese denied visas due to lack of details: officialsNO RELIGIOUS VISIT: The interior minister said visas were not issued for 218 applicants for a tour of Taiwan organized by a temple due to their own non-response Chinese who had sought to enter Taiwan for a religious event were not granted visas because they were not “religious personnel” and planned to visit places not listed on their group tour’s itinerary, then never supplied supplemental information upon request, the Ministry of the Interior and the Mainland Affairs Council (MAC) said yesterday. Visas were not issued for 218 of the 239 applicants, as they did not provide additional information or explanations as requested, Minister of the Interior Lin Yu-chang (林右昌) told a committee at the legislature in Taipei. Multiple groups, including the Taiwan Matsu Fellowship, had signed a petition that soughtBy Cheng Ching-yi,Chen Yu-fu and Jake Chung
Source:Taipei Times
December 05, 2023 17:08 UTC
KMT-TPP alliance talks under probe
KMT-TPP alliance talks under probeWHEELING AND DEALING? “Hou and Ko, with Chu and Ma acting as mediators, were wheeling and dealing on who gets to control which government ministry or other government position. Huang said this contravened Article 84 of the Presidential and Vice Presidential Election and Recall Act (總統副總統選舉罷免法). The talks broke down as the parties bickered over the use of public surveys and other issues, with the principals refusing to back down from their positions. We will not back down and shall continue to create ... a better political culture for our future generations,” she said.
Source:Taipei Times
December 04, 2023 17:41 UTC
EDITORIAL: Kissinger’s death the end of an era
EDITORIAL: Kissinger’s death the end of an eraHenry Kissinger, giant of US foreign policy, died on Wednesday last week. His backroom wheeling and dealing is often credited as the only way the US could have normalized relations with China. Nixon and Kissinger did not seem to mind sacrificing the little guy — a recurring theme of Kissinger’s career. For better or worse, China, the US and Taiwan are stuck with the frameworks concocted in back rooms by Kissinger and his contemporaries. Kissinger’s passing marks a transition into a new era, which is an era not served by the rules of a game played decades past.
Source:Taipei Times
December 04, 2023 17:41 UTC
IPhone maker Hon Hai plans US$1.6 billion in India expansion bid
IPhone maker Hon Hai plans US$1.6 billion in India expansion bidBloombergIPhone maker Hon Hai Precision Industry Co (鴻海精密) plans to expand its footprint in India with another NT$50 billion (US$1.6 billion) investment for construction projects. The news comes as Hon Hai, also known as Foxconn Technology Group (富士康科技集團), and other Taiwanese electronics manufacturers continue to diversify their businesses outside of China as tensions rise between Washington and Beijing. The company has been making iPhones and other products in India for several years, including the latest iPhone 15. In September, a Foxconn representative in India said on LinkedIn that the Taiwanese company plans to double the size of its business in the South Asian country. Foxconn already operates nine production campuses and more than 30 factories employing tens of thousands of people in India, where it takes in around $10 billion of revenue annually.
Source:Taipei Times
November 27, 2023 17:05 UTC
Ko Wen-je overtakes William Lai in approval rate poll
Ko Wen-je overtakes William Lai in approval rate pollBloombergA new poll of Taiwanese voters found the top opposition candidate for president jumping past the ruling party’s hopeful into the lead position ahead of January’s election — the latest twist in a drama-filled race. Taiwan People’s Party (TPP) presidential candidate Ko Wen-je (柯文哲) had an approval rating of 31.9 percent versus 29.2 percent for the Democratic Progressive Party’s (DPP) presidential candidate Vice President William Lai (賴清德), the poll released yesterday by the Taiwanese Public Opinion Foundation showed. The Chinese Nationalist Party’s (KMT) presidential candidate, New Taipei City Mayor Hou You-yi (侯友宜), ranked third with 23.6 percent, according to the survey conducted from Nov. 19 through last Tuesday. From left, Taiwan People’s Party Chairman and presidential candidate Ko Wen-je; Vice President William Lai, the Democratic Progressive Party’s presidential candidate; and New Taipei City Mayor Hou You-yi, the Chinese Nationalist Party’s (KMT) presidential candidate, are pictured in a composite photograph. A TVBS poll conducted Friday last week through Sunday showed Lai leading with 34 percent, Hou in second at 31 percent and Ko in third at 23 percent.
Source:Taipei Times
November 27, 2023 16:41 UTC
Chef Min Woo Lee serves up victory in Australian PGA
Chef Min Woo Lee serves up victory in Australian PGAAP, BRISBANE, AustraliaMin Woo Lee yesterday started celebrating his first Australian PGA Championship title on the next-to-last hole when he put on a chef’s hat and did a synchronized clap along with the boisterous crowd before jogging off to the 18th. Australia’s Min Woo Lee claps with the crowd while wearing a chef’s hat on the 17th hole of the final round of the Australian PGA Championship in Brisbane yesterday. “I’ve always thought I could win, but it took a while to get over the hump,” he said. Lee is next week to play in the Australian Open that has a joint tournament format to feature men’s and women’s fields. His sister, two-time major winner Minjee Lee, would also be playing in Sydney.
Source:Taipei Times
November 26, 2023 20:05 UTC
Lai, Hsiao hold first campaign rally together
After naming Hsiao as his running mate on Monday last week, the pair the next day registered for the Jan. 13 election. Democratic Progressive Party presidential canddiate William Lai, front center, and running mate Hsiao Bi-khim, front left, attend a campaign rally in Hualien City yesterday. Taiwan People’s Party Chairman and presidential candidate Ko Wen-je speaks at a gathering with young people in Taipei yesterday. At a campaign event in Taipei, New Taipei City Mayor Hou You-yi (侯友宜), the KMT’s presidential candidate, said DPP was resorting to ideological manipulation in its campaign. New Taipei City Mayor Hou You-yi, the Chinese Nationalist Party’s (KMT) presidential candidate, front center, and his running mate, Jaw Shaw-kong, middle center, attend a campaign rally in Taipei yesterday.
Source:Taipei Times
November 26, 2023 17:32 UTC
EDITORIAL: Lai victory is not guaranteed
EDITORIAL: Lai victory is not guaranteedThe Chinese Nationalist Party (KMT) and the Taiwan People’s Party (TPP) had engaged in weeks of political horse-trading between high-ranking officials, hoping to form a joint ticket to win January’s presidential election, but it all ended in a dramatic public falling out on live television on Thursday. While the answer seems obvious, it still might not be as “easy” a win for Lai and his running mate — former representative to the US Hsiao Bi-khim (蕭美琴) — as many disappointed pan-blue supporters believe. With the KMT and TPP, which seek closer China ties, having failed to form a joint ticket, it is likely that Beijing would ramp up its efforts to interfere in Taiwan’s election process. There is still time for voters to shift their support based on how the three campaigns present themselves, as well as Chinese interference. So there is no guaranteed win for any party.
Source:Taipei Times
November 25, 2023 21:39 UTC
315 legislative candidates have registered
315 legislative candidates have registeredStaff Writer, with CNAThe nation’s political parties are weighing the possible effects on legislative elections of a failure by the Chinese Nationalist Party (KMT) and Taiwan People’s Party (TPP) to strike a deal for a joint presidential ticket. According to the Central Election Commission (CEC), 315 legislative candidates have registered to compete for 73 seats in the single-member districts, while 16 political parties registered their lists, with 178 nominees, for 34 at-large seats. TDemocratic Progressive Party legislative candidate Huang Hsiu-fang, front left, gestures during a campaign event in Changhua County yesterday. For the at-large seats, the KMT, the TPP and the ruling Democratic Progressive Party (DPP) all registered to the fullest extent of 34 candidates. Taiwan People’s Party’s legislative candidates take the stage during a campaign event in New Taipei City on Sunday last week.
Source:Taipei Times
November 25, 2023 21:37 UTC
Hou, Ko to run separately, as Gou quits
TPP Chairman Ko Wen-je (柯文哲) was the first to officially register his candidacy with the Central Election Commission in Taipei yesterday, shortly after naming TPP Legislator Cynthia Wu (吳欣盈) as his running mate. Supporters of the Chinese Nationalist Party (KMT) gather outside KMT headquarters in Taipei yesterday, as party officials decide on a vice presidential candidate. New Taipei City Mayor Hou You-yi, left, sits next to Broadcasting Corp of China chairman Jaw Shaw-kong at the Chinese Nationalist Party (KMT) headquarters in Taipei yesterday, after the party announced Jaw would be Hou’s running mate. Chu called for solidarity within the KMT, and urged the members to work toward the common goal of getting Hou elected. Shortages of labor, land, talent, electricity and water have caused many to become disillusioned and stop pursuing their dreams, he said.
Source:Taipei Times
November 25, 2023 11:48 UTC
KMT, TPP picks for VP reveal intentions: critics
Broadcasting Corp of China chairman Jaw Shaw-kong, the Chinese Nationalist Party’s candidate for vice president, arrives at the party’s headquarters in Taipei yesterday. Photo: CNAJaw has declared his opposition to arms procurements and advocates following the “one China” principle, Chen said. New Power Party spokeswoman Yu Chia-chien (余佳蒨) said that TPP Chairman and presidential candidate Ko Wen-je (柯文哲) “clearly” chose TPP Legislator Cynthia Wu (吳欣盈) as his running mate to secure financial support for his campaign. Taiwan People’s Party Chairman and presidential candidate Ko Wen-je, center left, and Legislator Cynthia Wu, his running mate, wave at the Central Election Commission in Taipei yesterday. However, the TPP would continue to discuss cooperation with the KMT throughout the campaign and after the election, he said.
Source:Taipei Times
November 25, 2023 10:41 UTC
TPP legislator-at-large list is topped by Vivian Huang
TPP legislator-at-large list is topped by Vivian HuangStaff writer, with CNAThe Taiwan People’s Party (TPP) on Wednesday released its legislator-at-large nominees for the Jan. 13 elections, with former Taipei deputy mayor Vivian Huang (黃珊珊) topping the 34-person list for the elections on Jan. 13. Under Taiwan’s electoral system, the number of legislator-at-large seats is prorated according to the number of party votes each party receives, with a threshold of 5 percent of all party votes cast. Former Taipei deputy mayor Vivian Huang speaks to reporters at a news conference in New Taipei City on Wednesday. 2 pick, Huang Kuo-chang (黃國昌), a former New Power Party (NPP) legislator, for his work uncovering corruption while serving as a lawmaker. Huang Kuo-chang last week resigned from the NPP, which he cofounded in 2015 and chaired from its inception to March 2019.
Source:Taipei Times
November 23, 2023 21:45 UTC
Opposition candidates’ live meeting fruitless
Opposition candidates’ live meeting fruitlessBy Kayleigh Madjar / Staff writer, with CNAOpposition politicians failed to agree on a united approach to the January elections during a chaotic meeting that was broadcast live yesterday, ahead of the 5pm deadline for registration today. Hon Hai Precision Industry Co founder and independent presidential candidate Terry Gou, and his running mate Tammy Lai, near top right, walk among members of the media as they arrive for a meeting at Grand Hyatt Taipei yesterday. The combative tone was set early, with spokesmen for Gou and the KMT trading barbs before the final two participants arrived. A clock counts down to the candidate registration deadline during a meeting between opposition politicians at the Grand Hyatt Taipei yesterday. Photo: ReutersThe meeting ended at the 6:30pm deadline with the KMT members leaving after Gou’s spokesman suggested that the party tried to manipulate polls from earlier in the year.
Source:Taipei Times
November 23, 2023 21:17 UTC
No need to rehash polls for joint ticket, TPP says
Former Taipei deputy mayor Vivian Huang, the campaign office manager for Taiwan People’s Party (TPP) Chairman and presidential candidate Ko Wen-je, speaks at a news conference in Taipei yesterday. The KMT proposed an analysis of nine polls, but later agreed to take out three that favored a Hou-led pairing after the TPP rejected polls conducted solely over landlines. It would be problematic if a joint ticket helps Vice President William Lai (賴清德), the Democratic Progressive Party’s presidential candidate, win, she said. Huang went to the Central Election Commission office in Taipei at 4pm to pick up presidential candidate registration forms on behalf of Ko. Hou yesterday urged Ko to “think things over,” adding that there were still 48 hours for the former Taipei mayor to change his mind about a joint ticket.
Source:Taipei Times
November 22, 2023 22:28 UTC