President Chen Shui-bian attended the 2006 Lunar New Year Gathering for leaders of industrial and commercial groups on the afternoon of February 8, highlighting 3 areas the government needs to make breakthroughs: investment, employment and commodity prices.
The president mentioned to the business leaders that the unemployment rate in December 2005 had dropped to 3.86%, the lowest since March 2001, and the tax budget fulfillment in 2005 was 113.4%, with an excess of more than NT$184.6 billion over the projected amount. Up to 40% of this tax revenue growth came from the increase in income tax.
However, "challenges still await us ahead," the president said, reminding the business leaders that the world oil price plateau and last year's natural disasters had rendered the commodity prices to fluctuate to a great extend. While speaking of the new-year's financial and fiscal policies, besides pursuing economic stability and growth, the president pointed out that investment, employment and commodity prices were the 3 targeted areas the government would have to make breakthroughs.
In analyzing the history of Asian economic development trend, in which Japan advanced earliest, followed by Taiwan, Korea, Hong Kong, Singapore (Asia's Four Little Dragons), Thailand, Philippines, Indonesia and Malaysia (Southeast Asia's Four Little Tigers), the president reminded that, according to the rules, China's current 8%-9% economic growth somehow would eventually reach the limit and slow down. Therefore, "in the global economy, no countries or areas can possibly be either the sole or the final market," the president claimed and then emphasized that "China is no exception."
Toward the end of his speech, the president encouraged the business leaders to be farsighted and avoid being trapped in tunneled vision. "When we are able to grasp the essence of economic development," the president concluded, "any market can be where we stand."