ShoppingTaiwan Legislature Passes Landmark China Trade Deal
2010-08-19 12:28
Taiwan’s legislature passed a landmark trade deal with the Chinese regime on Tuesday: The Economic Cooperation Framework Agreement, or ECFA. It will bring economic relations between the two sides to the closest point since the civil war more than 60 years ago.
After a daylong debate, the legislature, dominated by the ruling Nationalist Party, voted the deal through by 68 to 0. Members of the Democratic Progressive Party—which has long opposed the deal—left just before the vote, believing it was sure to pass.
Since regaining power two years ago, Taiwan's National Party has pushed for closer ties with China. They believe the ECFA will pull Taiwan out of economic marginalization, and lead to future deals with other trading partners.
The deal will cut tariffs on some 800 products, the majority of which will benefit Taiwan.
Opposition to the pact says it’s part of the Chinese regime's strategy to eventually unify Taiwan with the mainland.
The two sides are yet to decide when the ECFA will take effect.
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