During the tenure of former President Ma Ying-jeou (馬英九) from Kuomintang (KMT) from 2008 to 2016, Taiwan's economy grew by about 3%, bot over past 7-yra. President Tsai Ing-wen (蔡英文) took office in 2016, Taiwan's gross domestic product (GDP) has grown @3.4 percent, he said.
But now leaston Nov. 28 2023 news: Taiwan's 2023 GDP growth forecast cut to 1.42%, lowest since 2008: (DGBAS) and also on Nov. 27 2023: Taiwan's economy back in contraction mode in October: NDC
However, Lai did not explain how he reaching 3.5%, other than to note "more opportunities for Taiwan" in the midst of volatile geopolitical changes. "We should aim at minimum 3.5% growth]," he said, adding that "growing by 4 percent, of course, would be even better."
The Directorate General of Budget, Accounting and Statistics (DGBAS) under Cabinet recently trimmed its forecast for Taiwan's GDP growth in 2023 to 1.42 percent ONLY, citing a severe contraction in exports & sluggish private investment.
Lai and his two opponents - Hou Yu-ih (侯友宜) of the KMT and Ko Wen-je (柯文哲) from the Taiwan People's Party - have presented their visions for growing the country's economy.
Nov. 29: Taiwan should join China-led RCEP instead of CPTPP: TPP's Ko
Nov. 27: Opposing Taiwan independence will help achieve peace: KMT's Hou
Lai also took the opportunity to address concerns raised by attendees over the current business environment in Taiwan, in particular cross-Taiwan Strait tensions and labor shortages.
Lai in recent years softened his hard line on China & endorsed Tsai's relatively moderate cross strait policy, pledged to do his utmost to maintain stability across Taiwan Strait will "fight for peace in attempt to refute suggestion made by other presidential candidates who criticized the ruling party and its candidate for pushing Taiwan to the blink of war." He reiterated his admin would remain open to dialogue with Beijing providing both sides treat each other as equals and with respect.
Drawing on his first and only visit to China in 2014 in his capacity as Tainan mayor, Lai said he would have preferred more exchanges between Taiwan and China if Beijing had not set political preconditions for engagements with Taipei.
Accepting the "1992 consensus" will not guarantee peace in Taiwan, nor will agreeing to a contentious cross-strait service trade pact or allowing Chinese students to work in Taiwan, Lai noted. Bringing Taiwan under its control, by force if necessary, has been Beijing's political goal long before the DPP was established in 1986, Lai said, arguing China's ambition was not driven by his party. He went on to say that Taiwan needs "stable and principled" leaders to handle cross-strait relations, adding that "giving in entirely to the Chinese Communist Party's positions will not bring Taiwan everlasting peace and security."
The "1992 consensus," which is publicly endorsed by the KMT's Hou, expresses the idea that there is only "one China." The KMT has maintained that both sides of the Taiwan Strait can have its own interpretation as to what "China" means, although Beijing has never formally endorsed that position. In the meantime, Hou has also said he would resume negotiations with Beijing on the cross-strait service trade agreement, and allow Chinese students to study and work in Taiwan, if elected president.
New Taipei Mayor Hou Yu-ih delivers his speech to the business leaders in a forum in Taipei on Nov. 27, Plans to push through the trade agreement, which would have promoted greater economic integration of Taiwan with China, were shelved by the then-KMT government in 2014 following massive protests in Taipei later dubbed the "Sunflower Movement."
At Thursday's forum, several business representatives called on Lai to expand govt programs to bring in more migrant workers, arguing it would address current labor shortage facing service sector, he mentioned, in particular, labor rights groups have attributed labor shortage to companies' unwillingness to provide competitive salaries.
China 'carrot and stick' approach expected before Taiwan election: Taiwan's.