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To: TobagoJack who wrote (508)	11/27/2002 7:47:40 PM
From: TobagoJack	Read Replies (1) \| Respond to of 867

Beijing opens door to flights from Taiwan Thursday, November 28, 2002 scmp.com JOSEPH LO and REUTERS In a surprising development, Beijing says it is now willing to make a key concession to allow Taiwanese airlines to land on mainland soil for the first time in more than 50 years. Zhang Mingqing, spokesman for the Taiwan Affairs Office of the State Council, suggested yesterday that China would allow the proposed chartered flights to Shanghai and Beijing to make stopovers in Hong Kong or Macau during the Lunar New Year holiday. Beijing had previously insisted that the flights be direct between Taiwan and the mainland. Travellers flying from Taiwan to the mainland are currently obligated to make a stopover in Hong Kong or Macau, most of which involve a change of plane. Under the chartered flight proposals, the Taiwanese carriers will either briefly stop over in Hong Kong or Macau, or enter the two SARs' air space without actually landing there. Mr Zhang said: "Taiwan says the chartered flights must pass through Hong Kong or Macau or land in Hong Kong or Macau. This will bring a burden to both the airlines and the passengers, and is of no real meaning. "Despite this, it is progress compared to the past. Even though we are not satisfied with doing it this way, we will actively co-operate with it. "If the Taiwan side is truly sincere, and does not create new problems unexpectedly or do something to hurt the interests of the Taiwan people, I think I would be glad to see chartered flights achieved over [Lunar New Year]." Taipei has repeatedly said that direct cross-strait flights would require government-to-government discussions with Beijing. However, Beijing has insisted that Taipei accept the "one China" principle before such talks could go ahead. Taiwanese legislators said yesterday that December 15 had been set as the deadline for official approval for the flights, which would carry Taiwanese business people living in Shanghai and Beijing home for the holidays. Taiwan's Mainland Affairs Council on November 12 said the government had given conditional approval for the flights to operate to and from the mainland during the Lunar New Year holiday to help ferry the huge number of homecoming Taiwanese. An estimated 300,000 Taiwanese businessmen and their families live on the mainland. Taiwan's six largest airlines met again yesterday to discuss preparations for applying to operate the proposed flights. Taipei is expected to release guidelines on the applications this week or next. An official of EVA Airways, Taiwan's second largest carrier, said the meeting discussed how the flights should be priced, and insurance certification issues. But he warned that many issues remained, such as the lack of landing rights in Hong Kong and Macau for some of the Taiwanese carriers wanting to participate. Another issue is that Taiwanese officials are insisting that the flights be priced at levels that seem far below cost, which could cause conflict with Hong Kong and Macau airlines already servicing the route. Meanwhile, Financial Secretary Antony Leung Kam-chung dismissed fears that a resumption of direct links between Taiwan and the mainland would affect Hong Kong's role as a conduit for cross-strait trade and travel. He said Hong Kong should instead welcome closer economic ties between the two sides.

To: TobagoJack who wrote (508)	11/28/2002 10:38:41 AM
From: que seria	Read Replies (1) \| Respond to of 867

Interesting how those in gov't and media share the tendency to see something greener on the other side of the fence. For China's sake I hope it is very choosy in making decisions on the premise that Western economic policymakers are experts: China floated a trial balloon June 28 positing a common Chinese currency for the mainland, Taiwan, Hong Kong and Macao that eventually could evolve into the core of an Asian common currency. An article in the official People's Daily suggested the formation of a "Chinese dollar" following the pattern of Europe's common currency, the euro. The optimistic 10-year plan could lead to the creation of an "Asian dollar," which could protect the region against currency fluctuations and economic crises, according to the report. Then they focus upon the obvious issue whether China can do it, when the bigger issue is whether it would accomplish this grandiose goal. In the People's Daily article, four benefits were put forward for the formation of an integrated Chinese currency. First, China's financial reforms could be guided by experts from Hong Kong and Taiwan, stabilizing the Chinese economy and strengthening the common system. OK, they can have Greenspan in exchange for a pile of gold. Sure, he's not from Hong Kong or Taiwan, but why should China accept a diluted brand of turn of the millenium expertise when it can have the real thing? Second, Hong Kong would gain a much broader market for its products and services. Because no one wants to trade with them now, using that backwater currency the dollar? But never mind the present; it might be a good plan for the future, but only if China doesn't take economic advice from the usual suspects . . . er, "experts." Third, Macao's vital tourist industry would be boosted by the more convenient single currency. OK, point taken, it works for Las Vegas. The fourth and final benefit would be for Taiwan, which would be able to use the scale of China's economy to resist "external financial attack." A benefit now that, like the present joys of Euro participants yoked to Germany, could later seem a burden. I'm shocked that this board hasn't weighed in on the investment implications of the abrupt decamping of Miss World lassies from Nigeria. Next thing you know the locals will be torching McDonald's franchises and seizing oil platforms. One might even suppose that aversion to independent and uninhibited women, and to capitalism, are linked somehow.