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KMT rebuts report criticizing Ma administration's economic record

KMT rebuts report criticizing Ma administration's economic record

Taipei, March 4 (CNA) The ruling Kuomintang (KMT) on Sunday rebutted a recent media report that said Taiwan's economy under President Ma Ying-jeou was the worst among the four Asian tigers. In a report in the Chinese-language Liberty Times on Feb. 26, the newspaper criticized the Ma administration for failing to meet its promise of topping the economies of Singapore, South Korea and Hong Kong. Citing data released by the Directorate General of Budget, Accounting and Statistics, the report said Taiwan had the highest unemployment rate between 2008-2010 and the second lowest economic growth in 2011 among the four tigers. Chuang Po-chung, chairman of the KMT's Culture and Communication Committee, said Taiwan has recorded an average growth of 3.42 percent since Ma first took office in May 2008, second only to Singapore's 5.01 percent over the same period. On unemployment, Chuang said the jobless rate was already the highest among the four tigers under former President Chen Shui-bian of the opposition Democratic Progressive Party, who was president from 2000-2008. During Chen's first three years and 8 months in office, 227,000 jobs were created and unemployment figures rose by 189,000, Chuang said, adding that Ma had performed better over the same amount of time in office. Chuang elaborated, saying that under Ma, 395,000 new jobs had been created, while the number of unemployed increased by only 56,000. Responding to the newspaper's claim that the number of industries shifting overseas was the reason behind Taiwan's poor economic performance, Chuang said fewer businesses were moving abroad in recent years. The portion of offshore production counted in Taiwan's total export orders surged by an annual average of 4.2 percentage points from 1999's 12.2 percent to 2007's 46.1 percent, Chuang said. Although the figure climbed to 50.5 percent in 2011, Chuang pointed out that the average annual increase had dropped to 1.1 percentage points in the past four years. (By Lee Shu-hua and Kay Liu)


Updated : 2020-12-05 11:19 GMT+08:00