Taiwan: Incompetence or Sense of Humor?

Was it a joke or an incompetent move?

It seems that the latter is more accurate.

You don’t know what I am talking about?

Well  Premier Liu Chao-shiuan said in an interview with Dow Jones Newswires published Thursday that "Taiwan can consider including the Chinese yuan in its forex reserves, as cross-Taiwan Strait ties are expanding at an unprecedented pace."

Can you believe it?

Not only members of his team seemed speechless about it, but even the Central Bank needed to release a statement yesterday about this idea, saying that it won’t happen any time soon…

No country in the world has included the Chinese currency in its forex reserves.

Why?

Very simple: this currency is not freely convertible. And it won’t be any time soon.

That’s all.

End of the story and beginning of the question: how come the Premier could make such a remark?

Stupidity? Or political point of views erasing the simple economic common sense?

He is the chief of the government!

Should be embarrassing for Taiwan…

We could wondering about the level of competence of some people. See for example the case of ezTravel, a Taiwanese company listed in the stock market.

Its president (not the marketing manager or the janitor…) just discovered (in today Taipei Times) that his company has been taken over by a Chinese competitor…

Obviously, there is a lack of transparency and accountability on the Taiwanese bourse.

But still, the president is not able to notice something wrong about the shares of his own company?

It seems that a lot of people, including from China, will exploit incompetent policy and policymakers and incompetent company’s owners.

If you add now the ECFA on the top, you will have the full big picture of what will happen to Taiwan…

 

Mots clés Technorati : ,,,
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