Opening up the only way to deal with global economic integrations: KMT chairman

 Opening up the only way to deal with global economic integrations: KMT chairman

                                                     November 19, 2015

Kuomintang Chairman Eric Chu said opening up is the only way to keep Taiwan from being marginalized in the face of the global trend of economic integrations.

He said in opening up, the KMT has its goal, strategy and method, but the opposition Democratic Progressive Party merely has criticism but never methodology.

Speaking in a Taipei’s forum on international economic policy on November 19, Chu said for Taiwan to continue to develop, it is necessary to maintain cross-strait peace, improve its economy, uphold social stability and bring hopes to the younger generation.

In improving economy, the most important thing is to open up and to place Taiwan as part of the free global market that boasts a population of several billion people.

To do so, Taiwan must turn itself into a “free economy island,” Chu stressed, adding it is the only route Taiwan must take in the future. Taiwan must start with promoting its pilot free trade zones, and step-by-step negotiate with other countries in order to join regional trade blocs, like the Trans-Pacific Partnership agreement, the Regional Comprehensive Economic Partnership agreement and European Union.

He said currently there are 413 free trade agreements, and when the DPP was in power between 2000 and 2008, it only signed four free trade pacts with other countries, about 0.14 per cent of all free trade pacts in the world. The percentage has increased to 9.69 per cent since the KMT regained power in 2008. If Taiwan signs the “trade in goods” agreement with the mainland, the percentage will rise further to 27.01 per cent, Chu said.

He warned that Taiwan would soon lose its competition to South Korea, which has signed a free trade agreement with the mainland, and once the pact takes effect, it would seriously affect Taiwan, given the 69.82 per cent the agreement would cover globally.

He said during his visit to the United States last week, US officials and experts were concerned about Taiwan’s participation in the TPP.

If Taiwan adopts a seclusion policy and isolates itself from the world, it would only result in Taiwan marginalizing itself, which would deal a serious blow to its economy, Chu said, adding for a long time, the DPP has remained ambiguous or even negative towards cross-strait relations and the open-door policy. It has time and again slammed as “wrong and erroneous” the pilot free trade zone policy promoted by the KMT administration.

“If it continues to use such a mindset in dealing with Taiwan’s future, we can’t help but worry about future economic development of Taiwan,” Chu noted.

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