Chinese Economics Thread
- Thread starter Norfolk
- Start date
That is a very important one. So South Korea and China can gang up against Japan, beside the even more important effects on the economies of South Korea and China.
You write like Chinese and Koreans love each other. Well, that's not true. They have their own problems and I'm 100% sure that 'ganging up' against Japan is on the last place on the list of their priorities (assuming that it ever entered that hypotetical list which I doubt btw)
Zool
Junior Member
It looks like China has made big gains at the latest APEC summit, in particular towards it's FTAAP (Free Trade Area of the Asia-Pacific) initiative.
Reports just prior to the summit suggested the US was successful in pressuring against movement on the FTAAP, even stopping discussion/announcement of beginning steps to create a working study on implementation of the pact. Now appears that China was able to maneuver around the resistance and get exactly what it wanted:
Reports just prior to the summit suggested the US was successful in pressuring against movement on the FTAAP, even stopping discussion/announcement of beginning steps to create a working study on implementation of the pact. Now appears that China was able to maneuver around the resistance and get exactly what it wanted:
shen
Senior Member
You write like Chinese and Koreans love each other. Well, that's not true. They have their own problems and I'm 100% sure that 'ganging up' against Japan is on the last place on the list of their priorities (assuming that it ever entered that hypotetical list which I doubt btw)
Well at the moment they definitely both dislike Japan more than they dislike each other. For better or for worse, Japan's stance to wartime events are still remembered in both countries and dismissing its effect is unwise imo.
Militarily there won't be anything meaningful, but politically and to a degree geopolitically, is another matter.
broadsword
Brigadier
If a company is your current #1 customer or supplier and a competitor tries to forge an agreement with you that excludes that company, you have to wonder how it is going to work. I may be party to the agreement, but neither do I want to break ties with my current supplier/customer that has been more profitable to me.
shen
Senior Member
Taiwan need to catch up.
By Amy Chyan,The China Post
November 11, 2014, 12:04 am TWN
TAIPEI, Taiwan -- China and South Korea reached consensus on a free trade agreement (FTA) at the Asia-Pacific Economic Cooperation (APEC) forum in Beijing yesterday, which according to the Industrial Technology Research Institute (ITRI, 工研院）will negatively impact Taiwan's industry by NT$260 billion to NT$650 billion unless Taiwan and China can agree on a cross-strait trade pact.
Executive Yuan spokesman Hsun Li-chun（孫立群）said the FTA is a critical concern for Taiwan and that the nation has always had higher export numbers than South Korea. However, South Korea has been steadily improving, said Hsun, by signing FTAs with more than 50 countries and is looking into the Trans-Pacific Partnership, a regional FTA that more than 14 countries have expressed interest in.
Vice Minister of the Ministry of Economic Affairs (MOEA) Cho Shih-chao （卓士昭） said that with all the FTAs South Korea has signed, the country's current trade coverage is 62.66 percent compared to Taiwan's 9.68 percent.
According to reports, the China-South Korea agreement covers a total of 19 areas of trade, including electronics, clothing, e-commerce and investments.
As 77 percent of South Korea's exports are similar to those of Taiwan, the country has diminished Taiwan's competitive edge by utilizing their massive reach through FTAs with the United States, China and Europe, said Hsun.
MOEA minister Tu Tzu-chun （杜紫軍）said that negotiations over cross-strait trade have been ongoing since 2011, but South Korea was able to close the deal yesterday.
According to a member of the Presidential Office, the signing of the FTA was expected. However, due to the effect it will have on the Taiwanese exports industry, Taiwan needs to be diligent in catching up.
Kuomintang spokesman Chen I-hsin （陳以信）urged the Democratic Progressive Party (DPP) to be unbiased when voting on cross-strait bills in order for Taiwan to avoid falling behind other countries. The DPP's repeated boycotting of cross-strait laws, said Chen, is the reason these agreements linger in political purgatory. If the boycott continues, the DPP will become an accomplice to Taiwan's imminent weakness and crippled economy, Chen said.
The DPP needs to take responsibility for Taiwan's economy falling behind South Korea, said Chen, now that South Korea has an advantage.
DPP convener Ko Chien-ming （柯建銘）responded by saying that the FTA details need to be closely examined before any laws and trade agreements are rushed into being.
Ko said the urgency is due to the fact the China-South Korea FTA has affected the progress of the KMT favored “one country, two systems” policy. President Ma Ying-jeo's cross-straight policy has failed so the relationship between the two countries needs to be reassessed, said Ko. Whether signing trade agreements with China will solve Taiwan's economic dilemma still needs to be thoroughly discussed, said Ko.
By Amy Chyan,The China Post
November 11, 2014, 12:04 am TWN
TAIPEI, Taiwan -- China and South Korea reached consensus on a free trade agreement (FTA) at the Asia-Pacific Economic Cooperation (APEC) forum in Beijing yesterday, which according to the Industrial Technology Research Institute (ITRI, 工研院）will negatively impact Taiwan's industry by NT$260 billion to NT$650 billion unless Taiwan and China can agree on a cross-strait trade pact.
Executive Yuan spokesman Hsun Li-chun（孫立群）said the FTA is a critical concern for Taiwan and that the nation has always had higher export numbers than South Korea. However, South Korea has been steadily improving, said Hsun, by signing FTAs with more than 50 countries and is looking into the Trans-Pacific Partnership, a regional FTA that more than 14 countries have expressed interest in.
Vice Minister of the Ministry of Economic Affairs (MOEA) Cho Shih-chao （卓士昭） said that with all the FTAs South Korea has signed, the country's current trade coverage is 62.66 percent compared to Taiwan's 9.68 percent.
According to reports, the China-South Korea agreement covers a total of 19 areas of trade, including electronics, clothing, e-commerce and investments.
As 77 percent of South Korea's exports are similar to those of Taiwan, the country has diminished Taiwan's competitive edge by utilizing their massive reach through FTAs with the United States, China and Europe, said Hsun.
MOEA minister Tu Tzu-chun （杜紫軍）said that negotiations over cross-strait trade have been ongoing since 2011, but South Korea was able to close the deal yesterday.
According to a member of the Presidential Office, the signing of the FTA was expected. However, due to the effect it will have on the Taiwanese exports industry, Taiwan needs to be diligent in catching up.
Kuomintang spokesman Chen I-hsin （陳以信）urged the Democratic Progressive Party (DPP) to be unbiased when voting on cross-strait bills in order for Taiwan to avoid falling behind other countries. The DPP's repeated boycotting of cross-strait laws, said Chen, is the reason these agreements linger in political purgatory. If the boycott continues, the DPP will become an accomplice to Taiwan's imminent weakness and crippled economy, Chen said.
The DPP needs to take responsibility for Taiwan's economy falling behind South Korea, said Chen, now that South Korea has an advantage.
DPP convener Ko Chien-ming （柯建銘）responded by saying that the FTA details need to be closely examined before any laws and trade agreements are rushed into being.
Ko said the urgency is due to the fact the China-South Korea FTA has affected the progress of the KMT favored “one country, two systems” policy. President Ma Ying-jeo's cross-straight policy has failed so the relationship between the two countries needs to be reassessed, said Ko. Whether signing trade agreements with China will solve Taiwan's economic dilemma still needs to be thoroughly discussed, said Ko.
Taiwan pundits have predicted all 3 nations that were pressured to not join AIIB, Indonesia/south korea/Australia will all join the policy bank within one year after this apec is done. this is a round the US can't win IMO.