Caixin Media Chairman Xie Jinhe.
The Ministry of Economic Affairs issued an article to explain the doubts, and the chairman of Caixin Media, Xie Jinhe, also issued an article, citing various data to point out Taiwan’s economic interdependence with China. The Ministry of Economic Affairs has issued an article to explain its doubts, and Caixin Media Chairman Hsieh Jin-He has also issued an article, citing various data to point out the economic interdependence between Taiwan and China, and called on Taiwanese people to cherish the base of their lives and not be presumptuous.
In a Facebook post, Hsieh mentioned that over the years, people have had their own positions and preconceptions on cross-strait issues, and there is no crossover between them, such as “Taiwan’s economy will definitely be finished if cross-strait relations are bad! For example, “Taiwan’s exports are very dependent on China, if cross-strait relations are not good, Taiwan’s economy will definitely collapse! And so on, we have heard from time to time.
In response to these statements, Xie Jinhe first cited data to describe cross-strait trade is “you have me in the mud, I have you in the mud” is more apt. From the statistics of both sides of the Taiwan Strait, there is a discrepancy between China’s statistics and Taiwan’s statistics – China’s data is that in 2020, Taiwan exported to China and Hong Kong US$2006.64 billion, Taiwan imported from China and Hong Kong US$60.141 billion, Taiwan’s surplus to China was as high as US$140.52 billion; while Taiwan’s statistics to China and Hong Kong exports 151.452 billion U.S. dollars, imports of 64.777 billion U.S. dollars, a surplus of 86.673 billion U.S. dollars, China and Hong Kong accounted for up to 43.8% of Taiwan’s exports, if the Chinese perspective, this dependence is higher, “China and Hong Kong is Taiwan’s largest export market, this point Bo no doubt!”
But the trade surplus and deficit have their origins, Hsieh Jin-He went on to explain the structure of different industries and their historical origins. Take Japan as an example, Taiwan’s deficit with Japan is as high as $20 to $30 billion per year, and there have been initiatives to balance the trade deficit, but they have been unsuccessful for decades. Taiwan relies on Japan’s chemical materials and key components, such as the most important transmission in the production of bicycles and electric bicycles, also rely on Japanese parts maker Shimano (Shimano) imports can not.
“China’s trade deficit with Taiwan has always been very large,” Xie Jinhe went on to explain that, on the one hand, Taiwan’s production base has moved to China over the past 30 years, electronic foundry has become the most important exporter of foreign exchange in China, Taiwan’s pen power plant must import important components from Taiwan, so the amount of Taiwan’s exports to China has been very large; on the other hand, Taiwan’s exports to China’s main components, such as the production of bicycles and electric bicycles. On the other hand, Taiwan’s main exports to China are electronic components and information and communication products as the bulk, especially semiconductor-based components.
Hsieh Jin-He cited the example of empirical evidence, September 15 last year, the United States sanctions Huawei deadline, Huawei sent a number of cargo planes to Taiwan to pull goods, it is clear that China relies more on Taiwan’s key components.
However, Xie Jinhe also stressed that Taiwan’s enterprises in the early days of China as a production base, indirectly cultivating many Chinese local industries, such as Lixin has replaced the trend of Honghai, BOE once beat Taiwan’s panel industry, “many industries on both sides of the Taiwan Strait has been complementary from the original into a fully competitive situation, which has no longer who relies on who the problem!
And the past 30 years, Taiwan’s enterprises flocked to China, Taiwan’s flow of people, logistics, gold flow unilaterally to China, Xie Jinhe also said that Taiwan’s economy is certainly in a hollow state. However, the recent volume of Taiwan stocks zoomed to 600 to 700 billion yuan, compared to 2012 and 2013 when the Ma government actively promoted cross-strait exchanges, the daily trading volume of Taiwan stocks was 50 to 60 billion yuan, a far cry.
“Around 2012, it was the hottest moment for cross-strait exchanges,” recalled Hsieh Chin Ho, who had attended a tour group in Italy together with Chen Wu-hsiung, former chairman of the FHKI, talking about Chen Wu-hsiung’s past role as chairman of the board in Taipei, the highest record in one night to entertain 17 booths, precisely because China came to Taiwan to recruit, both central and local are The stock market in Taiwan has been wandering between 6 and 7,000 points for several years.
In summary, Xie Jinhe said that for more than 2 years cross-strait relations have been tense, but Taiwan’s economy has come out of a new pattern completely different from the previous one, “This is the money that went away back!” Hsieh also appealed to everyone living in this island of Taiwan, if they do not cherish their own base of security, every day long others, but look down on their own, the opportunity will never come.
Ma Ying-jeou yesterday (8) to attend the “cross-strait reopening machine, new opportunities after the epidemic” seminar, the meeting cited the growth of Taiwan’s exports to China data, that Taiwan’s dependence on China’s exports increased, this statement immediately triggered discussion, in addition to the Ministry of Economic Affairs issued an article to explain doubts, Caixin Media Chairman Xie Jinhe also cited data, issued an article to refute. Photo: from Hsieh Chin Ho’s Facebook page
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