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Posts Tagged ‘Taiwan Strait’

The week ahead

A trade pact will draw China and Taiwan closer togther

• IMPROVING relations between China and Taiwan will get another boost with the signing of a groundbreaking free-trade pact by the end of June. Ma Ying-jeou, Taiwan’s president, was elected in 2008 on a platform that called for better ties with China. A free-trade pact with the mainland is the cornerstone of his cross-strait policies. Taiwan, already isolated diplomatically, feared commercial marginalisation when the effects of a free-trade agreement between China and the Association of South-East Asian Nations (ASEAN) begins to be felt later this year. Mr Ma has already overseen the establishment of direct flights and shipping routes across the 110-mile-wide Taiwan Strait.

•AMERICA’S Supreme Court is likely to hand down a decision involving the Sarbanes-Oxley act of 2002 on Monday June 28th. The legislation, intended to tighten the auditing of public companies in the wake of the accounting scandals at Enron, WorldCom and Tyco, has been widely criticised for imposing costly and burdensome regulations on American businesses. The court will rule on the constitutionality of the board created to oversee independent audits of big companies. But firms may fear that if Sarbanes-Oxley is overturned a Congress on the brink of introducing tough regulation of Wall Street’s financial firms might well replace the act with something even tougher. …

China and Taiwan presidents swap telegrams

Hu Jintao and Ma Ying-jeou talk of peace in a sign of improved relations that could lead to historic summit

First came direct flights, then freight links, and now a single telegram. The presidents of Taiwan and China exchanged direct messages today for the first time in 60 years, in the latest sign of their thawing relations.

Hu Jintao wrote to Taiwan’s Ma Ying-jeou to mark the latter’s election as chairman of the Nationalist party.

Bacuse of the enduring mutual sensitivities, the message was sent simply to Mr Ma, while Ma’s reply was addressed to Hu as general secretary of the Communist party.

Beijing still claims sovereignty over Taiwan, which has been self-ruled since Chiang Kai-shek fled there following his defeat in the civil war in 1949. China has warned it could use force if Taipei pursued formal independence.

“I hope our two parties can continue to promote peaceful cross-strait development, deepen mutual trust, bring good news to compatriots on both sides and create a revival of the great Chinese race,” said Hu in his telegram.

“We should continue efforts to consolidate peace in the Taiwan Strait and rebuild regional stability,” Ma replied, adding that they should “put aside disputes”.

Ma was elected president in spring last year on a platform of improving relations with China and because of widespread dissatisfaction with the ruling Democratic People’s party.

But while he has signed landmark trade deals, he has avoided political issues, due in large part to powerful anti-Beijing sentiment on the island.

Lin Chong-pin, a strategic studies professor at Tamkang University in Taipei, told Reuters that the telegram suggested the Chinese leader wants to meet Ma eventually. “It’s sort of expected … It is in Hu Jintao’s benefit or advantage to meet,” Lin said. “It would be a personal feat.”

But analysts believe both sides may take years to weigh up the risks before proceeding.

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Taiwan, China Exchange 1st Direct Messages

TAIPEI, Taiwan — The presidents of Taiwan and China exchanged direct messages Monday for the first time since the two sides split 60 years ago – the latest sign of their warming relations.

According to a Nationalist Party statemen…

World Games In Taiwan: China Boycotts Opening Ceremony

TAIPEI, Taiwan — The 100-strong Chinese delegation boycotted the opening ceremony of the World Games in Taiwan on Thursday, underscoring the limits of the historic breakthrough in relations between Taipei and Beijing.

The Chinese gestur…