In January 2016, the Bank of Japan announced keeping its quantitative easing steady and added the negative interest rate as a monetary policy tool. Strangely, right after the policy announcement, the Japanese yen reversed course and started a drastic rise.
The earthquakes have created economic damage to Japanese automobile and electronic manufacturers as production was disrupted in the southern Japanese island of Kyushu, which hosts Japan’s largest semiconductor manufacturing bases.
Although Tsai may be different from Chen in terms of leadership style, the movement government’s role conflict dilemma may compel her administration to adopt strategies similar to the Chen administration.
On February 6, 2016, the southern Taiwanese city of Tainan was struck by a magnitude 6.4 earthquake. President Ma Ying-jeou announced that the Cabinet had drafted a new plan for anti-seismic reinforcement of construction and would push for further amendments to strengthen disaster prevention and relief measures.
Taiwan’s newly elected president Tsai Ing-Wen plans to set up a quasi-sovereign wealth fund to kick-start innovation-driven industrial development. She wishes to bring Taiwan into the US-led Trans-Pacific Partnership and enhance economic cooperation with several countries beyond China.
The issue of the greatest concern is Xi Jinping’s attendance at the Nuclear Security Summit which will be held from March 31 to April 1 in Washington, DC, as well as the Obama-Xi meeting on that occasion.
More than a month has passed since North Korea’s January 6 nuclear test, but no sanctions have been adopted, due largely to the differences between China and the United States over the severity, scope, and the very purpose of punitive measures.