What have you always wondered about the economy? Tell Us

China, Taiwan thaw rivalry, talk trade

Scott Tong Jan 26, 2010
HTML EMBED:
COPY

China, Taiwan thaw rivalry, talk trade

Scott Tong Jan 26, 2010
HTML EMBED:
COPY

TEXT OF STORY

Bill Radke: Today, China and Taiwan started what could be historic trade talks. From Shanghai, Marketplace’s Scott Tong tells us about an economic thaw in this political rivalry.


Scott Tong: Proponents say a trade deal could create a quarter-million jobs in Taiwan. Taiwanese insurance companies, banks and auto parts makers would face lower tariffs and other barriers in the vast China market.

Taiwan-based businessman Mark Forman says the island territory needs the new business; its longtime old customer isn’t buying.

Mark Forman: The American customer demand will probably never see the levels that it did prior to the almost implosion that we had last year. So I think it behooves Taiwan to have a lot more access to the China market.

Beijing makes that argument, as does Taiwan’s ruling party. But the Taiwanese opposition thinks a trade deal will create losers, like farmers who won’t be able to compete. And as Taiwan opens its doors to China, economist Chen Li Ying wonders who Beijing will really send over.

Chen Li Ying: China always will put some spies within their student group, or whatever.

Trade deal foes are spooked about Beijing’s true intentions. The talks are expected to last til May at the very least.

In Shanghai, I’m Scott Tong for Marketplace.

Marketplace is on a mission.

We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.

Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?

Your donation is critical to the future of public service journalism. Support our work today – for as little as $5 – and help us keep making people smarter.