The China Post
Date: December 10, 2016
By: Stephanie Chao
Two corporate heavyweights have backed out of accepting a request to act as senior policy advisers
to President Tsai Ing-wen.
The withdrawal of Taiwan Semiconductor Manufacturing Co. (TSMC) Chairman Morris Chang and Giant Group Chairman King Liu from a short list of potential presidential advisers was confirmed by the Presidential Office on Friday.
‘Hai Pa Wang’ Effect
Their exits were described by some observers as a continuation of the “Hai Pa Wang (海霸王) effect,” where businesses have sought to distance themselves from the Tsai administration to reduce the risks to their operations in mainland China.
Hai Pa Wang, a seafood restaurant chain, earlier this week took out a newspaper ad pledging support to the “one China” principle, amid rumors that the firm had close ties to Tsai’s family.
Fears that Beijing is stepping up efforts to punish firms close to the Democratic Progressive Party were fanned by a Dec. 2 announcement from Taiwan Affairs Office (TAO) in mainland China. [FULL STORY]