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One of thetop stories from this past week was that Premier Lin Chuan made his first policy report since taking office last month. He was originally scheduled to give the report on Tuesday, but he was blocked by lawmakers from the opposition Kuomintang (KMT).
The KMT legislators wanted Lin to sign a pledge concerning a number of issues of recent public concern. One of those was the issue of US pork imports, a matter that Lin had planned to address at the legislative meeting.
Lin was eventually able to make his report on Friday. During his report, he said that the Democratic Progressive Party (DPP) administration will chart a new economic course for Taiwan based on the principles of innovation, employment and distribution.
The premier also outlined the Cabinet’s top priorities, including: upgrading and transforming local industry; maintaining social order; political, cultural and educational reforms; ethnic harmony; and equal regional development.
On the diplomatic front, Lin said Taiwan will push to join the US-led Trans-Pacific Partnership (TPP) and strengthen economic and cultural ties with Japan and the United States. Lin also said that trade exchanges with ASEAN countries under the “new Southbound policy” was also a priority.
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Also this past week, the Fair Trade Commission has approved the merger of Taiwanese electronics manufacturing giant Foxconn and Japanese technology corporation Sharp.
According to the plan the two comopanies submitted in early April, a Foxconn subsidiary will acquire 44.55% of Sharp’s common stock. Foxconn will also procure OLED panels and camera modules from Sharp until mid-2019.
Fair Trade Commission Vice-Chairman Chiu Yung-ho said that the commission approved the merger proposal after their analysis showed the move will not lead to a monopoly in Taiwan’s market.
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And finally this past week, major flooding wreaked havoc at Taiwan’s main international airport – the Taiwan Taoyuan International Airport on Thursday. Flooding caused by a flash thunderstorm inundated the airport's basement food courts and parking lots, largely in Terminal 2. Also flooded was an underpass connecting the airport to National Freeway No. 2.
More than 200 flights were delayed, and some 30,000 passengers were affected.
Power has since been restored in Terminal 2 and the air-conditioning system, which stopped multiple times, was finally back up and running by about noon on Sunday.