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The ECFA tsunami to hit Taiwan: Liberty Times

The ECFA tsunami to hit Taiwan: Liberty Times

Premier Wu Den-yih said last week in the Legislative Yuan that Taiwan would drown without inking the ECFA with China amid fierce competition from rivals in the region, according to a report of Liberty Times.

However, according to the report of the BBC and the Jakarta Globe from Indonesia, the Indonesia government has officially asked for a renegotiation with China over the contents of the free trade agreement after it took effect from Jan. 1.

The Indonesia government is worried that the dumping of cheap China products might cause devastating impacts on local markets and its general economy, said BBC report.

It should be noted that the European Union also opened tax-free textile products from China in 2005, which European media says would attack Europe markets like a tsunami. The result is a wave of unemployment hit the EU members in the wake of the opening, the report said.

The truth is that even Indonesia, the member of ASEAN and a geopolitical power, feels pessimistic about the prospect of trade pact with China, how can Taiwan, where thousands of missiles are targeted at, gain benefits from the ECFA with the authoritarian regime?

Updated : 2021-06-17 16:56 GMT+08:00