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Friday, January 22, 2010

Taiwan reduces military spending

Taiwan's parliament (under the Beijing-friendly Kuomintang party) reduced its 2010 military budget by almost 7 percent.

At the same time, China (the US' largest foreign creditor) and the US (China's 2nd largest trading partner after the EU) are engaged in a another one of their media rows over Taiwan's purchase of US Patriot missiles from Lockheed.

Taiwan's government and many CEOs of large corporations--in opposition to Taiwanese labor rights advocates who are worried about eroding wages and increasing unemployment in an already bad situation—want to sign a free trade agreement with China.

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