Taiwan and China to sign landmark trade pact

Taiwan and China to sign landmark trade pact

news.bbc.co.uk

The Economic Co-operation Framework Agreement (ECFA) - to be signed later in the Chinese city of Chongqing - will remove tariffs on hundreds of products.

It is likely to boost bilateral trade already totaling about $110bn (£73bn) a year.

About $80bn in goods flows to China, and $30bn to Taiwan.

(visit the link for the full news article)


Related News Links:
news.bbc.co.uk
www.reuters.com
www.etaiwannews.com
www.atimes.com

This is a surprise. Just a few months ago their was condemnation against Taiwan from the CCP over US arms shipments to the island, but now a less costly and restrictive trade policy? Perhaps, a soft approach to reconciliation with the island will be the result of padding pockets instead of missiles and amphibious invasions? Is there more to this than meets the eye? Could this be another approach by China in marginalizing the US in the Pacific and their relationship with Taiwan through commerce and trade agreements?

It is said the quickest way to a man's heart is through his belly or his wallet. According to the article, this is the biggest break to the stalemate between China and Taiwan in over 60 years. It seems like a good move for all involved, but I still have reservations about it? Tens of thousands of Taiwanese protested the trade agreement.

news.bbc.co.uk
(visit the link for the full news article)

This is a really great breakthrough for both China's! As a supporter of the People's Republic of China I'm glad to see them having great communication with the Republic of China.

reply to post by Romantic_Rebel


I am pleased by this development as well, and if it leads to solving their differences peacefully even better. As a cynic, and considering the two countries often virulent disposition toward each other for over 60 years; there could be something sinister behind it? On the surface, it seems like a fair and equitable deal, and a good step to normalization between the two. We will have to wait and see where this goes?

[edit on 29-6-2010 by Jakes51]

reply to post by Jakes51


Give it time and we'll see. I believe that China is now more of a business nation then a waring nation. It's better to trade and make allies. Then to make rivals.

reply to post by Jakes51


Yes I agree this is good for stabilization in the region. It builds on other initiatives which have been implemented over the past couple of years - including the opening of direct airflights between China and Taipei.

Before last year, to fly between say Beijing/Shanghai and Taipei, which geographically are very close, you had to get two flights via a third country or port, usually Japan or Hong Kong.

Step one complete, we should now begin to see some movement on
North Korea,,,,,Savvy?

reply to post by Jakes51


Back in January Taiwan and China were on the brink!

China unvails anti-missile test after Taiwan sale

This certainly reveals a lot about the Chinese willingness on one hand to challenge and later to compromise with Taiwan!

The truth is that for many, many years there have been STRONG business ties on the individual/family/company level between Taiwan and mainland China. The two governments are of course enemies, and the role of the US, Japan, etc. in the whole thing is yet another level. But on a grassroots level, there are lots of families with connections in BOTH countries. They have been busy trading back and forth and cutting friendly deals for decades. There is some minor friction and grumbling by some Taiwanese who see the mainlanders in a dimmer light, but overall I don't think the people themselves would balk at either reunification or the continuation of the current status quo.

Taipei is a great city. I love its warren-like ambience. The night markets are some good eating.