Taiwan: Do We Really Have The Right People?

We all remember what the Minister of Justice said or did about the legal case concerning the former president.

Her blunders are also remembered, especially during one of her visits in prison.

We could think that maybe she is not up to this position in the government.

But she is not alone.

What’s about the Minister of Economic Affairs?

After his prediction last year that the TAIEX would top 10,000 and even hit 20,000 (sic), he doesn’t seem to have learned anything about speaking with caution, according the today’s Taipei Times:

“…

With Valentine’s Day approaching, the minister on Friday wished employees of ProMOS Technologies Inc a sweet lovers’ day. The greeting seemed innocuous enough, but given ProMOS’ circumstances and the minister’s position, it set the market abuzz with rumors and speculation.
ProMOS, a cash-strapped manufacturer of dynamic random access memory (DRAM) chips, has been seeking NT$5 billion (US$147 million) in emergency loans to help it repay US$330 million in overseas convertible bonds that will mature on Tuesday

…”

Moreover:

“…

The minister’s reply was: “I feel that tomorrow — Valentine’s Day — will be a good time.”
When reporters asked him whether his remark was an indication ProMOS was about to secure the much-needed cash from banks, Yiin replied with a smile: “Don’t you think I have given you the answer?”

…”

Right away, his ambiguous answer sent ProMOS shares soaring at the trade limit on Friday, with the daily transaction volume jumping three times its normal volume to more than 180 million shares.

Financial regulations strictly prohibit listed companies and insiders from spreading rumors or distributing unconfirmed information as this could strongly influence share prices or become a tool for market manipulation.

I think it is exactly what this minister did…

Anyway, the President seems to take strange decisions too, by cutting annual live-fire military drills to once every two years and reducing its defense budget for this year.

In the mean time, China increased the number of missiles aiming at Taiwan by more than 200 during the last few months.

Some experts said yesterday (HERE) that now, China is threatening Taiwan with more than 1,500 missiles…

As Michael Turton wrote, ” I do believe in pandas… I do believe in pandas… I do believe in pandas…”

Pathetic…

 

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