When speaking to members of the Taiwan Confederation of Trade Unions (TCTU) on July 24, Vice President Annette Lu said she believed that the Conference on Sustaining Taiwan's Economic Development will satisfy Taiwan's industries.
According to the vice president, the Conference on Sustaining Taiwan's Economic Development, to be convened by the Executive Yuan and the Legislative Yuan on July 27, will focus more on the consented objectives reached in its preparatory meetingsThese objectives include adjusting labor regulations, increasing labor participation, avoiding labor shortage and reviewing policies in regard to foreign labors, and upgrading the quality of Taiwan's human resources.
These objectives, she said, attest to the fact that the government undoubtedly stand by the industries.
Moreover, she compared Taiwan's economic condition with that of South Korea. For example, she pointed out that Taiwan's trade surplus in the first five months of this year reached US$6.53 billion, exceeding South Korea's US$4.94 billion; in the same timeframe Taiwan's price index increased by 1.4%, lower than South Korea's 2.3%.
She especially mentioned that Taiwan's unemployment rate in May 2006 was 3.84%, marking the lowest record since the ruling Democratic Progressive Party took power in 2000. Taiwan's foreign exchange reserves have reached US$260 billion today, an increase of US$140 billion as compared to six years ago, she added.
Therefore, she strongly emphasized the importance of Taiwan's economic sovereignty. "Taiwan's sovereignty will be severely endangered if we bet our value of existence and industrial development on China," she warned.
However, while maintaining that Taiwan should "reach out to the world," she did not imply a confrontation with China. "We need to build up our confidence when honestly facing up to China that is growing daily," she said.