Eye On Taiwan

Taiwan’s Wen Tzu-yun qualifies for Tokyo 2020 Posted: 19 Mar 2020 12:53 PM PDT Taiwan’s karate ace announces qualification for Olympics by saying, 'I did it!' Taiwan News Date: 2020/03/19 By: George Liao, Taiwan News, Staff Writer Wen Tzu-yun (Facebook, Tzu-yun photo) TAIPEI (Taiwan News) — “I did it!” Taiwan’s karate ace Wen Tzu-yun (文姿云) said she had qualified for Tokyo 2020 in a Facebook post on Thursday (March 19). The qualification rounds for Tokyo 2020’s karate competition were originally scheduled to last until April 6, in order to produce top two athletes from each weight category for the Olympics, NOWnews reported. However, due to the Wuhan virus, qualification events in March and April were canceled.    [FULL  STORY]

Taiwan cuts interest rates to counter Wuhan coronavirus impact Posted: 19 Mar 2020 12:47 PM PDT Taiwan's GDP growth will fall below 2% in 2020: Central Bank Taiwan News Date: 2020/03/19 By: Matthew Strong, Taiwan News, Staff Writer Central Bank Governor Yang Chin-long (center)  (CNA photo) TAIPEI (Taiwan News) — Taiwan’s Central Bank on Thursday (March 19) cut the interest rate to 1.125 percent, a lower rate than in the wake of the 2008 Euro crisis, in order to offset the impact of the Wuhan coronavirus (COVID-19) pandemic. The 0.25-percent cut for the discount rate ended a string of 14 quarterly meetings which decided to leave interest rates unchanged, media reported. The Central Bank met as President Tsai Ing-wen (蔡英文) called for calm on the stock market and the National Stabilization Fund was reported to prepare intervention. At the same time, the Central Bank also revised its forecast for the country’s Gross Domestic Product growth for 2020 to 1.92 percent, ending hopes that it might stay above 2 percent, CNA reported.    [FULL  STORY]

Stabilization fund authorizes intervention in financial markets Posted: 19 Mar 2020 12:43 PM PDT Focus Taiwan Date: 03/19/2020 By Ku Chuan and Matthew Mazzetta) Taipei, March 19 (CNA) The management committee of Taiwan's National Financial Stabilization Fund determined Thursday that the legally-defined conditions for its intervention in Taiwan's financial markets have been met, allowing a possible injection of funds as soon as Friday. The Executive Yuan announced the authorization at an evening press conference attended by Cabinet spokesperson Kolas Yotaka, Finance Minister Su Jain-rong (蘇建榮) and Juan Ching-hwa (阮清華), the fund's executive secretary. The move follows several days of turmoil on international stock markets, which have suffered amid the growing economic fallout from the COVID-19 pandemic. In the United States Wednesday, the Dow Jones Industrial Average fell by 1,338 points, or 6.30 percent, dropping below 20,000 for the first time in three years. The Nasdaq Composite fell 4.7 percent, while trade on the S&P 500 index was briefly halted due to steep declines, before closing down 5.18 percent.    [FULL  STORY]

FSC bans short selling to curb losses Posted: 19 Mar 2020 12:38 PM PDT SEEKING STABILITY: Securities and Futures Bureau Deputy Director Sam Chang said that the market ‘appeared irrational,’ but it was not as ‘crazy’ as it was in 2008 Taipei Times Date: Mar 20, 2020 By: Kao Shih-ching / Staff reporter The Financial Supervisory Commission (FSC) yesterday announced a short-selling ban on the Financial Supervisory Commission Chairman Wellington Koo yesterday speaks at a news conference in New Taipei City. Photo: CNA Taiwan Stock Exchange and the Taipei Exchange (TPEX), starting today, as it attempts to curb speculative trading amid “irrational declines on the stock market.” Unlike previous bans imposed in 1998, 2008 and 2015, which applied to all stocks, this ban applies only to stocks that showed a decline of 3.5 percent or more a day earlier, Securities and Futures Bureau Deputy Director Sam Chang (張振山) told a news conference in New Taipei City. The TAIEX fell 5.83 percent and the TPEX dropped 7.53 percent yesterday, and 1,233 stocks on the two boards reported declines of more than 3.5 percent, the commission’s data showed. Tech heavyweights Taiwan Semiconductor Manufacturing Co (台積電) and Largan Precision Co (大立光) fell 3.69 percent and 9.72 percent respectively.    [FULL  STORY]

VIDEO: Kaohsiung offers counseling to people quarantined at home Posted: 19 Mar 2020 12:32 PM PDT Radiio Taiwan International Date: 19 March, 2020 By: Jake Chen Kaohsiung offers counseling to people quarantined at home. (CNA Photo) Kaohsiung offers counseling to people quarantined at home. (CNA Photo)[/caption] As of Thursday, anyone allowed to enter Taiwan must self-quarantine for 14 days. This prolonged isolation has caused discomfort for some, but quarantined residents of the southern city of Kaohsiung, at least, have access to professional help. The city of Kaohsiung wants its quarantined residents to know that they aren’t alone. The city has set up a team of counsellors to help those subject to COVID-19 quarantines get through what for many is an ordeal.    [FULL  STORY]

Taiwan shows its mettle in coronavirus crisis, while the WHO is MIA Posted: 19 Mar 2020 12:27 PM PDT Brookings Date: March 19, 2020 By: Don Shapiro, Senior Director – American Chamber of Commerce in Taipei As the coronavirus pandemic takes a rapidly increasing toll on the health and well-being of people around the world — as well as the global economy and social fabric more broadly — Taiwan has won widespread recognition for its impressive performance in dealing with the crisis. Relying on a combination of preparedness, technology, and transparency, Taiwan has managed to limit the number of reported cases in Taiwan so far to 108 (with just a single coronavirus-related death) — far fewer than in neighboring countries. The public health professionalism and sense of global responsibility Taiwan has displayed underscore the irrationality of Taiwan’s exclusion from the World Health Organization and its information channels due to political objections from China. A key element in Taiwan’s preparedness was the lessons learned from its devastating experience with the SARS epidemic in 2003, which caused 71 deaths on the island of 23 million people. Seeing that the initial response to SARS was hampered by the lack of a centralized decisionmaking body to take charge during a health crisis, Taiwan later that year authorized the creation of a Central Epidemic Command Center (CECC) to coordinate across government departments and mobilize the necessary resources during future crises. To fight the current coronavirus, the administration of President Tsai Ing-wen activated the CECC as early as January 20, with the minister of health and welfare designated as the commander. Over the following weeks, the CECC put scores of measures into effect to aid in containing the disease and preventing its spread into the general community. This included screening incoming travelers for fever and implementing a system of rationing face masks to prevent hoarding. [FULL  STORY]

Taipei airport swarmed by confused foreigners after Taiwan entry ban Posted: 19 Mar 2020 12:20 PM PDT Long lines form at Taoyuan Airport due to Taiwan travel ban, quarantine rule Taiwan News Date: 2020/03/19 By: Keoni Everington , Taiwan News, Staff Writer British man concerned about entry into Taiwan.  (CNA photo) TAIPEI (Taiwan News) — As the first day of a ban on foreign visitors went into effect on Thursday (March 19) the Taiwan Taoyuan International Airport (TPE) was swarmed with thousands of foreign passengers confused about their eligibility to enter the country and bewildered by the new quarantine policy. During a press conference held on Wednesday morning, Taiwan's Foreign Minister Joseph Wu (吳釗燮) announced that all foreign nationals will be barred from entering Taiwan, with the exception of persons holding an Alien Resident Certificate (ARC, 居留證), diplomatic officials, and businesspeople with special entry permits, effective on Thursday. Later that same day in Taipei, Director-General Phoebe Yeh (葉非比) of the foreign ministry’s Bureau of Consular Affairs clarified that foreigners holding a visitor or landing visa must leave the country before their visas expire. The only exception would be "force majeure" (unforeseeable circumstances that prevent an individual from fulfilling a contract), such as a national disaster or serious illness. Many foreigners were not aware of the sudden policy change and the 12 a.m. March 19 deadline. By Thursday morning, many foreigners were landing at TPE unaware that they could no longer enter the country with visa-exempt status.   [FULL  STORY]

Taipei, New Taipei seek to expand provision of ‘quarantine hotels’ Posted: 19 Mar 2020 12:16 PM PDT Focus Taiwan Dater: 03/19/2020 By: Liang Pei-chi, Sunrise Huang and Joseph Yeh Taipei, March 19 (CNA) Taipei and New Taipei cities are in talks with a number of local hotels to become "quarantine hotels" serving those required to undergo quarantine, after the four current hotels became fully booked following the introduction of new border controls amid the ongoing COVID-19 pandemic. Commissioner Liu Yi-ting (劉奕霆) of Taipei's Department of Information and Tourism said the capital city's three existing "quarantine hotels" are fully booked. The city government is in talks with more hotel operators to encourage them to join the initiative, Liu added. Meanwhile, New Taipei City government said the one quarantine hotel contracted by the city is also full and it is looking to sign contracts with more hotels to meet increased demand. [FULL  STORY]

China urged to free Lee Ming-che Posted: 19 Mar 2020 12:13 PM PDT Taipei Times Date: Mar 20, 2020 By Dennis Xie / Staff writer, with CNA China urged to free Lee Ming-che By Dennis Xie / Staff writer, with CNA Human rights groups and lawmakers yesterday demanded China immediately release imprisoned rights advocate Lee Ming-che (李明哲), as they marked the third anniversary of his detention in Guangdong Province. Lee, a staff member at Wenshan Community College in Taipei, went missing on March 19, 2017, after entering Zhuhai, Guangdong Province, from Macau. On Nov. 28 that year, the Yueyang City Intermediate People’s Court in Hunan Province sentenced him to five years in Chishan Prison for subversion of state power by using online discussion groups to disseminate information attacking the Chinese government and for supporting the families of Chinese dissidents. Taiwan has not forgotten Lee, members of the Rescue Lee Ming-che Team told a news conference in Taipei, which included a display about “365 Letters Written to Lee Ming-che” exhibition of letters written by Taiwanese to Lee. Members of the Rescue Lee Ming-che Team and others hold up ribbons a news conference in Taipei yesterday calling on the public not to forget about Lee and urging the Chinese authorities to release him. Photo: Liu Hsin-de, Taipei Times Human rights groups and lawmakers yesterday demanded China immediately release imprisoned rights advocate Lee Ming-che (李明哲), as they marked the third anniversary of his detention in Guangdong Province. Lee, a staff member at Wenshan Community College in Taipei, went missing on March 19, 2017, after entering Zhuhai, Guangdong Province, from Macau. On Nov. 28 that year, the Yueyang City Intermediate People’s Court in Hunan Province sentenced him to five years in Chishan Prison for subversion of state power by using online discussion groups to disseminate information attacking the Chinese government and for supporting the families of Chinese dissidents. Taiwan has not forgotten Lee, members of the Rescue Lee Ming-che Team told a news conference in Taipei, which included a display about “365 Letters Written to Lee Ming-che” exhibition of letters written by Taiwanese to Lee. 5Exhibition curator Wu Ting-chen (吳亭臻) urged the public to write more letters to Lee and urged the Chinese government to release Lee.   [FULL  STORY]

WATCH: Taiwan Insider, March 19, 2020 [How to deal with COVID-19 anxiety] Posted: 19 Mar 2020 12:08 PM PDT Radio Taiwan International Date: 19 March, 2020/ By: Paula Chao Everywhere you turn, there’s more bad news about COVID-19. So how do you keep your anxiety in check when it feels like the world’s on fire? Today we get some tips from Psychologist Michael Mullahy from the Community Services Center, and share our own experiences as reporters and consumers of the news.   [FULL  STORY]