Taiwan’s Economic Independence: 10 Years After the March 18 Movement

2024-03-15 03:53:00

Reporter Gao Yifan/Reporting from Taipei

▲Wu Peiyi said that Huang Guochang betrayed the spirit of the student movement (Photo/Provided by the Democratic Progressive Party)

In 2014, the March 18th Student Movement broke out and blocked the Kuomintang’s efforts to promote the Cross-Strait Services Trade Agreement. This year marks the 10th anniversary. In this regard, the Democratic Progressive Party compared the economic performance of Taiwan and Hong Kong today (15th) and showed that signing a services trade agreement with China will actually reduce the degree of economic openness. In addition, the Democratic Progressive Party also criticized that Huang Guochang, a participant in the March 18 Movement, has repeatedly chosen to stand with the Kuomintang, which is a betrayal of the spirit of the movement.

The Democratic Progressive Party held a press conference this morning on “Going the Right Way, Taiwan for the World – Review of the 10th Anniversary of the 318 Student Movement”, which was hosted by spokesperson Wu Zheng, legislator Wu Peiyi, Keelung City Councilor Zhang Zhihao, former legislator Cai Peihui, and the China Economic Research Institute Assistant researcher Wang Wangochen analyzed the ten years after the March 18th Movement in terms of economy, democracy, and international aspects. Taiwan is on the right path and continues to move towards the world.

Wu Zheng said that since the March 18th Movement, Taiwanese people have chosen a completely different national line. They do not want to expose their economy and politics to China and take huge risks. They do not want to be unilaterally over-reliant on China. Instead, they want to deepen democracy, consolidate economic independence, and cooperate with China. The world’s way to make friends. He said that the opposition parties and pro-China people looked back on the March 18th Movement and believed that it was absurd and wrong to hinder Taiwan’s economic development opportunities.

Wu Zheng criticized pro-China figures for saying they were ridiculous and wrong (Photo/Provided by the Democratic Progressive Party)

▲Wu Zheng criticized pro-China figures for saying they were ridiculous and wrong (Photo/Provided by the Democratic Progressive Party)

Wang Guochen pointed out that Taiwan returned to the Trade in Services Agreement, while Hong Kong signed the Agreement on Liberalization of Trade in Services. In comparison, Taiwan’s economic growth rate averaged 3.0% from 2015 to 2023, which was better than Hong Kong’s 1.0%; among them, from 2015 to 2022 In 2018, Taiwan attracted foreign direct investment with an average annual growth rate of 21.6%, higher than Hong Kong’s 15.1%. In other words, signing a services trade agreement with China will actually reduce the degree of economic openness.

Wang Guochen said that signing a service trade agreement with China would actually reduce the degree of economic openness.  (Photo/Provided by the Democratic Progressive Party)

▲Wang Guochen said that signing a service trade agreement with China would actually reduce the degree of economic openness. (Photo/Provided by the Democratic Progressive Party)

Wang Guochen pointed out that trade in services is not the only key to the economic differences between Taiwan and Hong Kong. It also includes the U.S.-China economic and trade war and the collapse of the Chinese economy. However, these factors all point to China, because the Beijing authorities’ economic coercion, expansion, plunder, and secret theft have all increased the antipathy of countries around the world. In the future, advanced countries will continue to decouple from China, so strengthening economic and trade connections with China will only harm their own economies.

Cai Peihui pointed out that other political parties have recently proposed the option of restarting the services trade. If the services trade comes true, it will affect everyone’s employment opportunities, and it will affect not only blue-collar workers, but also white-collar workers. Therefore, restarting the services trade is not a political matter. , but something that affects life and livelihood. She said that according to data, Hong Kong’s dependence on China and economic integration have caused the decline of Hong Kong’s economy, while Taiwan’s refusal to trade in services shows its technological and agricultural strength to the world. This is Taiwan’s future.

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Cai Peihui said that restarting services trade is not a matter of politics, but a matter of livelihood (Photo/Provided by the Democratic Progressive Party)

▲Cai Peihui said that restarting services trade is not a political matter, but a matter of livelihood (Photo/Provided by the Democratic Progressive Party)

Zhang Zhihao said that looking back at Hong Kong, which continued to advance economically and trade with China, China and Hong Kong signed CEPA, Hong Kong’s economy absorbed the Chinese market, and a large number of Chinese customers poured into Hong Kong to speculate in real estate, land, and grab milk powder. People’s livelihood and economic supplies were in short supply, and even Hong Kong’s political annexation in the past has served as a reference. He said that in the past 10 years, Taiwan’s stock market has hit 20,000 points, TSMC has hit more than 700 yuan, and Taiwan’s foreign investment and exports have grown at a huge rate. Taiwan’s current economic achievements prove that the farther away from China and the lower its economic dependence on China, the better Taiwan’s economy will be.

Zhang Zhihao said that the further away from China, the better the economy (Photo/Provided by the Democratic Progressive Party)

▲Zhang Zhihao said that the further away from China, the better the economy (Photo/Provided by the Democratic Progressive Party)

Wu Peiyi said that the most important concept of the March 18 Movement is to “protect Taiwan and defend democracy” from the fear of being eroded by China. However, in the current Legislative Yuan, the Kuomintang, which adheres to the pro-China line, has proposed shortening the naturalization bill for Chinese nationals and made many ridiculous and clichéd remarks in harmony with China. However, Huang Guochang, a participant in the 318 Movement at the time, chose to stand with the Kuomintang many times. It is a betrayal of the spirit of sportsmanship.

Wu Peiyi said that from today’s perspective, Taiwan was the first country to send a warning to the world about the route revealed by the March 18th Movement. Other countries in the world have also gradually discovered that they cannot tie their economy and politics to China, otherwise it will cause Huge risk. She emphasized that in Congress, she will absolutely strictly abide by the spirit and purpose since the March 18 Movement, oppose China’s erosion of Taiwan, and will continue to propose initiatives and bills related to economic independence and partnership with democratic allies.

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