Sunday Media Round Up

Last month in speaking to a Mexican newspaper, Ma defined relations between China and Taiwan as "special" but not "special state-to-state" as Lee Teng-hui did, a policy which had held for ten years. The ex-President hit out at Ma this week, saying that he had "turned his back on Taiwan." Think we'll see screeching and hollerin' from all those people who had accused Chen Shui-bian of unilaterally altering the status quo with a referendum, directed at Ma Ying-jeou for unilaterally altering the status quo by downgrading our sovereignty? After all these years here, why am I still asking questions like that?

I can't resist noting that every expat on the island should support the Sarah Palin nomination. With all the Republicans arguing that Alaska's proximity to Russia has made her a foreign affairs expert, every expat on Taiwan now has the credentials to be a China specialist....but on a more serious note, people are asking whether McCain or Obama will be better for Taiwan. Two things should be noted: first, one-issue voting is ridiculous, and second, either could be. Much will depend on who McCain/Obama picks for his Asia people and his Taiwan advisors. I've made comments because I like speculating, like everyone, but basically, I do not know, and I am voting Obama.

Even as Taiwan's market slumps, people continue to write on how wonderful it is. Both of these pieces are pushing it (here and here), but the interesting point here -- aside from calling it "the most exciting stock market in the world right now" -- is that "Tom Dyson" claims to have lunch with someone famous in the industry, "Mr. Cheng":

Mr. Cheng says the opportunity in Taiwan stocks is a "one-in-ten-lifetimes opportunity."

while the piece in the India Times notes:

“The opportunity in Taiwan stocks is one-in-ten-lifetimes. But most people don't realise that commercial relationships between Taiwan and China are booming. Trade between mainland China and Taiwan is expected to reach $150 billion this year,” Suman added.

"One-in-ten lifetimes" occurring two apparently unrelated articles a world apart? The Taiwan index closed at 6307 on Friday, having lost the equivalent of US$300 billion in value since Ma took office, or about 1 year of GDP. Maybe now is the time for a truly smart investor to get in and find bargains, but I have some trouble believing it. AP reports that the government is attempting to soothe voters, but still repeats the utter nonsense that 40,000 people showed up to protest on Aug 30. Ma corrects himself and says the government will aim for 6% growth after four years. Tax reductions are one measure the government is mulling to save the economy. In any case, says FT, the problem is that the Chen investigation will overshadow the economy. Yes, everything is Chen Shui-bian's fault...I hear that Freddie Mac and Fannie Mae used to rely on him for policy advice.....

Also on the economic front, the travel industry was calling for greater efforts to stimulate western and Japanese tourism since China tourism has been a bust. Beijing, we hear, is to blame for the bust. Meanwhile, in case you need something to recommend to your buddies from overseas on those freespending nights out, foreign chefs have agreed that braised pork rice is Taiwan's best dish. SHOCKER: how many Chinese tourists are actually coming to Taiwan: Claudia Jean finds an authority who says the daily number is: 37. Most "Chinese" tourists come from Hong Kong and Macau, it appears.

Taiwan's plummeting birthrate (8.9 per 1000 in 2007 vs 15 in 1997) is leading to school closures... rice fossils in Tainan are illuminating the history of rice use in Taiwan. Motorcyclists account for 60% of traffic deaths, and the death rate for unhelmeted drivers is about 8 times that of helmeted.

Perhaps taking office in Japan is the new prime minister, Taro Aso, to be sworn in under the new policy implemented this year under which everyone in Japan gets to be prime minister for 10 minutes. Max Hirsch has the call in the Japan Times:

"Taro Aso," said legislative Speaker Wang Jin-pyng, "staunchly supports Taiwan — if he heads Japan's Cabinet, that should be a boon to Taiwan."

An outspoken conservative, Aso, 67, tends to take a hard line on China and backs Taiwan for its embrace of democracy. The hawk, Wang told reporters, also enjoys strong personal relations with many Taiwanese officials and supports Ma's China-friendly policies.

Everyone expects that Aso is going to be very friendly to Taiwan... Aso also supports the "Taiwanization" of China. Seems to me that is already happening, with both sides appearing to be moving in the direction of Singapore except on a much larger and more complex scale, because of their extensive agricultural hinterlands, complex ethnic issues, and foreign relations. At present, Singapore, not Taiwan, appears to be the ultimate model for "Chinese" democracy -- in the Taiwan case that is going to be flavored with some Japanese elements. Speaking of models and Japan, Japan Focus has a nifty piece on citizenship and subjecthood in the Japanese empire, including some remarks on Taiwan.

Fujian claims to have hosted 9 million Taiwanese since 1987. Also on leisure activities, Taiwan closed its last legal brothel, in Nantou. And here's an article on Taiwan's leisure farms, the back-to-nature equivalent of legalized prostitution.

And totally unrelated to Taiwan, this fascinating glimpse of Fiji's mercenary industry and its relation to US hegemony, Iraq, and local politics in Fiji.

[Taiwan]