Market Commentary and Intraday News
Taiwan opposition wants premier sacked for economy
244 days ago
(AP:TAIPEI, Taiwan) Taiwan's political opposition wants the island's premier out of office and is blaming the government for mismanaging the economy.
The government has announced a stimulus plan after second-quarter growth contracted. But analysts say there may be no quick fix of the local economy before a global recovery is in full swing.
A no-confidence vote backed by the Democratic Progressive Party is tentatively set for Friday. But the ruling Nationalist-controlled Legislature is not likely to pass it.
Still, the move could add pressure on the government to find ways to revive the economy. Exports have been the engine of growth but have declined for months amid weakening foreign demand for Taiwan's high-tech products and other goods.
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