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Before writing another pro-unification article on this forum, I would like to criticize Chinadaily's removal of my post last week regarding China's territorial integrity, in relation to how the PRC tackles the same issue differently with the Russians than with the Chinese in Taiwan. I would like to point out again that Mao's resolve to safeguard China's "territorial integrity" in 1962 was much more coherent than the Jiang's and the Hu's of modern China. I believe the PRC's secession of territory to the Russians for oil and natural gas is a big blow to China's territorial integrity, which will come back to haunt China in the long term. Putin and the Russians certainly view this as a good sign of China's "peaceful rise," which, unfortunately, doesn't seem to apply to its compatriots in Taiwan.|
Politicians throughout the world have exploited the "Taiwan issue," not just in the form of lucrative arms deals (e.g France, US), but also in:
1. Denying the existence of a fully functioning democracy in Taiwan as a result of supporting the one China principle affirms good relations with China - a prerequisite to tap China's burgeoning economy (e.g France, UK, Germany, Australia, just to name a few).
2. Using Taiwan to make the news headlines as a means to contrast the relative stability the country enjoys, in order to attract more FDI. (e.g Singapore).
3. Switching recognition, or threatening to switch recognition, in order to get the highest winning bid in cash (e.g Vanuatu, Senegal, etc).
4. Quoting "Taiwan democracy" as a pretext to bash China publicly (e.g G.W Bush, Japan FM Aso).
As a result of our cross-straight bickering, billions of hard earned dollars by Chinese on both sides have gushed into the pockets of foreign politicians.
Without all this political uncertainty, Taiwan would have been a lot richer than it is today. The well-sustained trade surplus for the past three decades should have generated much more liquidity and investment in the domestic market. But because of politics, upper-middle-class Taiwanese people choose to invest in foreign funds and move their assets and families to America and Canada. As a result, consumer spending is not as strong as it could have been and Taiwan's stock market is under-invested by domestic investors. Foreign financial institutions have invested a total of 51% in foreign currencies. This posts a big threat to Taiwan's currency. If cross-straight tension continues to rise, we can expect to see more selling by foreign investment banks - leading to an irreversible devalution of Taiwan's currency.
Taiwan should follow the HK model and become a depoliticized, if not also demilitarized, self-ruled SAR of China. Doing so will effectively make Taiwan a much more favorable investment destination. China should tout these well-intentioned incentives, and lower all the warmonger rhetorics.
[ Last edited by twchinese at 2006-3-14 01:37 AM ]