Given the problematic
political relationship between the two countries with
no solution in sight, the current investment and trade
commitment in China is both too much in terms of magnitude
and too concentrated in terms of dependency risk.
This problem will be discussed in greater detail as
a separate subject Thursday.
Before the current administration
, the two former President Chiangs did not get involved
in economic matters and entrusted them to their key
aides who had established channels to hear grievances,
suggestions, formulate policies, and take actions.
With the Taiwanization of the ruling party, many high-profile
business leaders have moved to the nerve center of
the party machine and have easy and frequent access
to President Lee Teng-hui. What came out of this new
situation is excessive and undue influence of Big
Business on government policy and decision-making.
Lee himself has been prone to influence peddling and
would make policy or decision over the objection of
his related cabinet members and at the expense of
existing rulings or guidelines. This pathetic problem
of "rule of man, not rule of law" reached its height
perhaps in the case of the two Korean presidents who
were indicted and punished for the high crimes of
selling off their offices to the chaebols and big
banks. Two things should be learned from this example-one,
governments have to keep Big Business at arm's length
at all time and two, how in the world could they have
hidden all those bribe monies from auditors?