Oil Prices Are Up And So Are Exports Fuel prices have been rising in Taiwan in recent months, a result of fluctuations in global crude prices brought on by tensions in the Middle East. The latest hikes are tied to the drone strikes on Saudi Aramco facilities that took place in mid-September. Gasoline prices in…
Terry Guo Leaves KMT, Will Not Run in 2020 Former Foxconn Chairman Terry Gou on September 12 resigned from his honorary position in the Kuomintang (KMT), citing the party’s “culture of reactionary politics and backroom horse-trading” as influencing his decision. His departure was criticized by many in the KMT, who argued that he broke the…
Solomon Islands, Kiribati Cut Ties with Taiwan After months of uncertainty regarding whether Taiwan would lose yet another ally to China, the government of the Solomon Islands on September 16 voted to switch diplomatic recognition to the PRC, ending its 36-year formal relationship with Taiwan. Its decision followed statements made by Taiwan’s Ministry of Foreign…
Mayor Ko Establishes new Political Party Taipei Mayor Ko Wen-je announced in late July the founding of a new political party. Named the Taiwan People’s Party (TPP), a reference to a party of the same name founded by Japanese colonial era democracy activist Chen Wei-shui in the 1920s, the TPP will present an alternative to…
Licenses Approved for Three Online-only Banks The Financial Supervisory Commission (FSC) on July 30 approved applications for operating licenses submitted by three online-only banks, despite having previously stated that such authorization would be limited to two banks this year. FSC Chairman Wellington Koo announced that the licenses will be issued to Next Bank, whose majority…
Taiwan made headlines this August for a Q2 growth rate of 2.41%, propelling it well ahead of the other three Asian Tigers for the first half. This increase is at least partially attributable to the reshoring of a number of Taiwanese businesses from China, encouraged by government incentives and the ongoing trade war between China…
Sale Of F-16Vs to Taiwan Gets U.S. Approval Following quickly after Taiwan’s US$2.2 billion purchase of tanks, missiles, and other military hardware from the U.S. in July, the Trump administration in August approved the additional US$8 billion sale to Taiwan of 66 F-16V fighter jets, also known as the F-16 Viper. Although in keeping with…
Bid for 3rd Terminal Fails Once Again In June, a tender for the contract to construct a third terminal for the Taoyuan International Airport failed to attract any bidders for the third time, despite efforts by the airport corporation to offer improved conditions. As a result, Taiwan’s CECI Engineering Consultants Inc. and its partner in…
Protests in Hong Kong Over Extradition Law In June, mass protests erupted in Hong Kong in opposition to a proposed extradition law that would have allowed accused criminals to be sent to China (as well as Taiwan) for trial. The bill was introduced following the murder of a young woman at the hands of her…
Trade War Sends Q2 to Sluggish Start Normally June is a peak season for exports of electronics items, the bulwark of the Taiwan economy. But the value of export orders received in June fell by 4.5% from the level of the same month last year to come to US$38.5 billion, the eighth straight month to…
