Taiwan ratifies trade pact (2)

But the growth momentum is slowing amid uncertainties about the prospects of the global economy.

A Dow Jones Newswires economists' poll expected the island's second-quarter GDP to grow 10.5 percent from a year earlier.

Yang noted that the signing of the pact brings Taiwanese more aligned with the peaceful development promoted by the ruling Kuomintang and boosts public trust in Ma Ying-jeou.

Politicians in Taiwan are also concerned that Taiwan will be marginalized as a result of a free-trade agreement (FTA) between the mainland and the Association of Southeast Asian Nations (ASEAN).

China and ASEAN launched an FTA at the beginning of the year, under which the average tariff on goods from ASEAN countries to China is cut to 0.1 percent and Chinese goods enjoy a tariff cut in the six original ASEAN members.

Kaohsiung magistrate Yang Chiu-hsing, who is currently running for mayor of Kaohsiung, told the Singapore-based Lianhe Zaobao that he conditionally supports the pact because Taiwan risks being marginalized without it.

Liu Linlin contributed to this story

Source: Global Times
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