The China Post
Date: June 20, 2016
By: Stephanie Chao
TAIPEI, Taiwan — Around a decade ago, then-President Lee Teng-hui came up with the
“Southbound Policy” to push Taiwanese businessmen to southeast Asian nations. Lee’s work would be continued by ex-President Chen Shui-bian.
Both presidents saw the policy as a way to curb the wave of westbound investment at the time, and also out of fear of Taiwan becoming too economically dependent on mainland China.
However, the two attempts are remembered by history as “failures.” Along with the rest of the world, it was inevitable that Taiwanese businesses would follow the money into China, which was buoyed by warming cross-strait relations thanks to President Ma Ying-jeou.
President Tsai Ing-wen’s “New Southbound Policy” goes against what Ma has accomplished over the past eight years, an attempt seen to “not put all of Taiwan’s eggs into the same basket,” and has raised skepticism among experts and businessmen nationwide. [FULL STORY]