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| ATBC Bulletin |
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| Chairman's Message |
| 10 February, 2010 |
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Dear members and friends
Taiwan: Economy to ‘Roar Again’ in 2010?
Taiwan’s government information office predicts that the island’s economy will ‘roar again in 2010’. Let’s hope so. Exports are improving and consumer confidence has returned to pre-financial crisis levels. Unemployment may start to fall from the present record level of six percent. Unless there is a global ‘double dip’ we expect to see Taiwan grow at up to four percent, not roaring growth, but a great improvement on the deep recession of 2009.
The Taiwan government claims credit for the improvement, citing its China policies and stimulus measures. The latter included consumer vouchers, guarantees on bank deposits, cuts in inheritance tax and subsidies for motor vehicle purchases.
ECFA: ‘Same Bed, Different Dreams’
We think progress this year in cross strait relations will prove more difficult than in 2009. China enjoys an overwhelmingly powerful negotiating position and from now on will see no reason to make substantial concessions to Taiwan’s KMT. President Ma and his administration are pinning their hopes on quick returns to Taiwan’s economy from the talks with China on an ‘Economic Cooperation Framework Agreement’ (ECFA), but we believe the Chinese Communist Party does not share the KMT’s sense of urgency. China’s ECFA goals are primarily political and strategic, not economic.
Conclusions of the 23rd Joint Conference
We have reached agreement with our Taiwan counterpart on the Conclusions of the highly successful 23rd Joint Conference, held in Sydney at the end of November 2009. I have included a summary in this Bulletin, for the information of members and friends. In the near future, we will write to the Minister for Trade, the Hon Simon Crean MP, reporting the outcomes of the Conference and seeking his support for the implementation of its recommendations.
Interns
Nancy Cheng, who joined the program in the second half of 2009 in Taipei, is relocating to Brisbane. Travis Wu has taken on extra responsibilities as Intern Manager Member Services and Business Research. Our well-qualified Intern team can carry out research and other assignments for members and friends, usually on a cost recovery basis. If you think we might be able to help, please call Angus Robinson or me.
New Members
A warm welcome to our newest member, Brisbane Airport Corporation.
The Year of the Tiger
May I take this opportunity to wish Members and friends a Happy and Prosperous New Year!
Ross Maddock
Chairman
10 February 2010
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