台灣銀行家雜誌

台灣銀行家雜誌

TTB's Digest

TTB's Digest

Set

107.10台灣銀行家雜誌第106期 / By Hank Huang

Set up an Irreplaceable Taiwanese View from the Trade WarEditor’s note
If you can tolerate the strong nationalism in political reporting and the selective manipulation of news on Taiwan, it’s always interesting to watch the development of public opinion in Chinese news.Taking financial news as an example, whether it’s the market vultures sweeping in after the P2P storm, government controls on the real estate bubble, or nicknames for the various currency market open operations of the “central mother” (a nickname for the People’s Bank of China), including hot and sour powder (the standing lending facility, or SLF), spicy powder (the medium-term lending facility, or MLF), and super-spicy powder (the temporary liquidity facility, or TLF), they have a knack for turning the PBoC into a central kitchen preparing all sorts of delicacies (monetary liquidity) with turns of phrase, allowing arcane financial phenomena to be expressed easily in print. One must admire the intelligence and creativity of Chinese netizens. Official creativity is not far behind: the vast “Belt and Road”and the rare “directional alignment”, or the “advancement in stability”of monetary policy all express ideas in series of four short rhyming characters which would require long English passages to fully clarify the policy context. Moreover, these phrases become stronger as the layers are peeled, so that cadres at all levels are able to broadly echo the leadership.The American media, with its freedom of political discussion, presents a completely different picture, and is also interesting to observe.Proud of its “melting pot” and diversity in backgrounds, opinions, and interests, the media spans the full spectrum from liberal to conservative. Taking economic issues as an example, economic prescriptions range from advocacy of full trade liberalization, all the way to full protectionism. It is normal for media of different political stripes to have markedly different takes on the same phenomenon. Under the protection of free speech, any view – no matter how radical or unusual – can find a platform, and even influence the direction of the country through presidential politics. Unlike Beijing, however, Washington lacks a mechanism for policy propaganda. The instant the president’s economic arguments come out, various expert opinions, the opposition party, and even outside parties and fake news sources dissect them mercilessly, making American policy announcements always appear uncertain. The joy in observing American public dialogue is in finding out after the fact who really knew what they were talking about.The media ecosystem differences between Taiwan and the US mean that the trade tensions which started in March have given Taiwan a new perspective. For a long time, accustomed to “importing” populist foreign viewpoints as needed, the steady beat of sentiments like “XX can, so why can’t we?” has caused Taiwan to neglect development and dissemination of its own international perspective. In fact, international opinions can be cleanly divided into those inside and outside China’s protective firewall. As the world inside the wall colorfully celebrates the 5th anniversary of the Belt and Road Initiative, and promotes China’s US$ 60 billion in debt-free aid to Africa, highlighting its international obligations as a responsible power, the world outside the wall is concerned about the rise of neo-colonialism, China’s corruption, and whether its rapidly growing debt bubble jeopardizes economic stability – a “gray rhino” event of concern to many countries. Taiwan, situated between the two powers, with its free media and Chinese literacy, is ideally placed to form its own views. It can help the world interpret events, while also finding the best positions and policy responses for itself.Taiwan’s unique geography gives it a VIP seat to this great power confrontation. The only question is whether it is psychologically prepared for this once-in-a-century drama.

文章分類

名家觀點
封面故事
特別企劃
TTB's Digest
精選
影音專區
綠能
都更
長照
文創
金融科技
全球經濟

最新文章

new! The Central ..
new! Catastrophic..
new! Strengthenin..
new! 你準備好面對自動化時代的..
new! PayNow Corpo..

訂閱雜誌

購買本期雜誌

353111
107.10台灣銀行家雜誌第106期繁體中文、台灣金融研訓院

封面故事:美中貿易大戰美中貿易大戰如同兩隻大象打架,不僅美中兩邊都會受傷,也可能牽動到全球經濟發展。而台商企業在此時機可考慮回台布局,在危機時刻找尋新的轉機。內容大綱:美中貿易戰歷程20 川普為何執意要挑起美中貿易戰 川普擁護貿易保護 迫使中國面對問題28 美國防堵中國的國際戰略 美國與中國對峙 只為貿易關係而起﹖32 激烈的貿易戰盡頭在哪裡? 看懂美中貿易戰 延長賽的攻與防38 觀察美中貿易戰襲擊,中國如何應戰 兩大之間難為小 台灣應做「金融漢光演習」全球金融股匯市震盪42 新興市場受美中貿易戰的金融影響 新興國家依賴美元 匯率外債壓力大45 對台灣金融業之影響及因應之策 美中兩強爭霸 考驗..