An international magazine continues to see Taiwan as one of the
world's economies with the lowest credit risk, despite the island's
heightened political tensions with mainland China and recent spate of
financial crises.
Institutional Investor, which twice a year evaluates the credit
worthiness of global economies, has rated Taiwan 14th among the
countries and areas with the lowest credit risk.
In its October 1995 issue, the magazine gave Taiwan a score of
77.9 points, out of a possible 100, on its credit index. The score is
two-tenths of a point higher than Taiwan's previous assessment last
spring.
Institutional Investor based its rankings on credit evaluations
by major international banks. The higher the score, the lower the
possibility that a nation will default on its debts.
The fact that all of the countries listed above Taiwan are
developed ones supports international bankers' evaluation of Taiwan
as a low-risk area.
Switzerland remained at the top of the list with a score of 92.2
points. Japan had the next best credit rating, 91.6 points. Rounding
out the top five were Germany, 90.9 points; the United States, 90.7
points; and the Netherlands, 89.3 points.
In the Asia-Pacific region, only two nations ranked higher than
Taiwan. They were second-place Japan and Singapore, which ranked 10th
with 84 points.
With 57 points, mainland China placed 33rd, down from 30th in
the previous assessment by the magazine.
A similar report last September by the financial magazine
Euromoney also gave Taiwan good marks. The publication rated Taiwan
16th among the global economies with the lowest "national" risk,
which considers economic performance, political risks, financial
assets and credit situation.
Taiwan's rating was one notch down from the previous report by
the organization six months earlier. The highest Euromoney ranking
ever achieved by Taiwan was 12th place four years ago.
Euromoney gave Taiwan an overall score of 90.50 points out of a
possible 100 in the September report. In the category of economic
performance, Taiwan received a particularly high evaluation.
Like Institutional Investor, Euromoney also ranked Switzerland
at the top, with 97.83 points. Singapore jumped from eighth to second
on a score of 97.36 points. Japan slipped from second to sixth in the
September report.
The major Asian countries that Euromoney ranked behind Taiwan
included Australia, at 17th; Hong Kong, 22nd; South Korea, 23rd; and
Thailand, 27th. Mainland China climbed four notches to 38th with a
score of 71.06 points in September.
------------------------------------------------------------------------------
08: Publishers, buyers, bibliophiles gather in Taipei for book show
BL: Yueh Ching
The kingpin of Asia's book fairs, the Taipei International Book
Exhibition, is filling the city this month with professional buyers
and sellers of books, bibliophiles and general curiosity seekers.
The Jan. 19-24 show, to be held in the Taipei World Trade
Center, is sponsored by the ROC Government Information Office and
organized by the China Times Publishing Co.
A dramatic improvement in copyright protection in Asian nations
has encouraged publishers from around the world to increase their
investment in the Far East, according to Jason C. Hu,
director-general of the GIO.
The Chinese-language market is at the center of the
international publishing industry's shift toward Asia. As Taiwan is a
leader in the Chinese market, it is not surprising that the TIBE has
become the biggest publishing event in Asia, Hu added.
With "East Meets West" as its theme, this year's exhibition will
put top foreign publishers and leading Taiwan publishers, bookstore
operators, book agents and authors under one roof for business and
scholarly exchanges.
"The TIBE reflects the vibrant nature of Taiwan's publishing
industry and promotes the purchase and sale of both copyrights and
books. The exhibition is the Asia-Pacific exchange center of the
publishing industry," Hu said.
Besides being important to publishing industry professionals,
the ever-more-popular exhibition is also of substantial benefit to
the general public.
The goal of the TIBE is to put Taiwan at the top of the
copyright market for Chinese-language books. But it also broadens the
perspectives of citizens and enhances their reading habits, Hsu
Chiu-huang, director of the GIO's department of publication affairs,
said.
The TIBE has enjoyed phenomenal growth. Taipei's first
international book fair, in 1987 at the National Central Library, had
only 85 display booths. The second time around, in 1990, heightened
interest in the exhibition resulted in a change of venue to the
Taipei World Trade Center to accommodate 185 booths.
Since then, the event has been held every two years. The number
of booths soared to 549 for the third show and skyrocketed again, to
921, for the 1994 exhibition.
This month, exhibitors will fill a whopping 1,316 display
booths, totaling 23,500 square meters of floor space. Thirty-four
countries and areas, including Taiwan, will be represented in the
show, a 55 percent increase over the 1994 event.
As an example of the high standing the Taipei exhibition enjoys
in the global publishing industry, foreign publishers booked 800
display booths on the first day of registration. "The enthusiastic
participation confirms our country's power in the publishing
industry," publication affairs director Hsu said.
The fifth TIBE offers something for everyone. The aisles of the
exhibition hall will be packed with seemingly countless books,
representing the latest editions by leading publishers from around
the globe.
In addition to the plethora of general exhibitions, there will
be several theme areas. As traditional publishing is marching toward
integration with electronic devices, one of the theme areas will take
a close look at future trends. At the "Electronic Publications
Plaza," 12 booths will give visitors a strong understanding of
electronic books and their role in the world of tomorrow.
A large TV wall will serve as a beacon attracting people to the
section. Once inside the plaza, visitors can operate multimedia
computers to read CD/ROMs and other electronically stored
information. To add an element of fun to the show, visitors can win
prizes in games that test their knowledge of electronic equipment.
Electronic books have certain advantages over traditional
reading materials. Sophia Hsia, of Taiwan's Kwang Toong Bookstore,
explained: "By using a computer, you can enjoy three-dimensional
reading with sound effects and even two-way communication," she said.
The "Republic of Comics" section is the largest theme area
planned for the show. With 21 booths, it will emphasize the notion
that comic strips are a universal language. The section will feature
hand-drawn and computer-generated comic strips, caricatures and
editorial cartoons from across the globe, with the colorful materials
organized into European, American and Asian pavilions.
Visitors can find the appropriate displays by heading toward the
Eiffel Tower, Statue of Liberty and Mount Fuji models that loom over
the regional pavilions.
The section will also include an exhibit on the development of
Taiwan cartoons over the last half century, as well as a chronology
of important developments in the cartoon industry matched against
events in world affairs. In addition, this is the place to find
out-of-print comic books and introductions to famous cartoonists and
their works.
Adding to the section's entertainment value, cartoonists will
give live demonstrations of their drawing skills, and visitors can
use virtual-reality technology to trek to "Cartoonland."
Another theme area will celebrate the 20th anniversary of the
Golden Tripod Award, which the ROC government presents each year to
outstanding publications. The section's eight booths will recap the
achievements of award winners.
The Golden Tripod Award started in 1976 with two categories:
best local magazine and Taiwan's top-selling publication overseas.
Today, the number of categories has been expanded to include the best
newspaper, magazine, book and musical recording. Awards are given to
organizations as well as individuals.
Moreover, since 1992 Taiwan also has been presenting the award
to books and musical recordings from mainland China as a step to
strengthen cross-Straits cultural relations.
The "Bologna Book Fair in Taipei" theme area will occupy three
booths at the exhibition. Bologna, a city in north-central Italy,
hosts the world's top fair for children's books. At the Taipei show,
visitors will have the opportunity to browse among 1,000 children's
books that have won awards in the past two years at Bologna's
international fair.
Just as books are made of paper, so are beautiful works of art.
To emphasize the connection, the exhibition will include a "World of
Paper Art" theme area. Works from the East and the West will stand
side by side in the section. There will be examples of Japanese
origami--which is the art of folding paper into the shapes of birds,
flowers and other natural objects--as well as American paintings.
Artist Phil Yeh will give a live demonstration of his painting
skills.
To promote a better understanding of the key issues in the
publishing industry, five lectures will be presented in conjunction
with the exhibition. Carol Risher, vice president for copyrights and
new technology with the Association of American Publishers, will
speak on "Book Publishing for a Digital World: New Products, New
Opportunities, New Challenges." Hirotada Kotaki, president of Tohan
Corp., will share his experiences in a lecture titled "Successful
Book Distribution and Storage in Japan."
Local industry representatives will make three presentations,
titled "China Times Publishing: Our Vision and Experience,"
"Copyrights Exchange After Taiwan Enters the World Trade
Organization," and "The Future of Books and Publishing in Taiwan."
The first day and a half of the six-day exhibition has been set
aside exclusively for book industry professionals, giving buyers the
freedom of movement to make the rounds to the 1,000-plus display
booths. To increase general interest in the world of books, the
public will be allowed entry at other times.
The GIO's efforts to bolster the development of the domestic
publishing industry extends well beyond the government agency's
sponsorship of the book fair in Taiwan. In recent years, the GIO has
also helped domestic publishers participate in exhibitions in
Bologna, Frankfurt, London, Singapore and cities in the United
States.
------------------------------------------------------------------------------
09: Artist trashes works to begin anew
BL: Diana Lin
For several days inside a Taipei exhibition hall, 1,000 Chinese
scroll paintings of lotuses adorned the walls, their pink profusion
turning the room into a fantastic art garden for visitors who
strolled through.
Beauty is fleeting, however. For these myriad suspended blossoms
were in fact awaiting their doom.
It was in the exhibition area of the city's Sun Yat-sen Memorial
Hall that Taiwan artist Hsu Chung-yin displayed the watercolor
lotuses that he had created over the past 15 years. And it was in the
same venue that the eccentric-looking man decided to wildly rip his
paintings to shreds, much to the shock of bystanders in the room.
Hsu looks very much the peculiar artist, with his stringy, black
beard and hair that is shoulder length on the sides and back, though
he is completely bald on top. He not only looks the part, but acts it
as well.
Each day from Dec. 23 to Jan. 1, Hsu had the flagrant
audacity--perhaps honest courage is a better term--to tear up 100 of
his paintings. He called the process the "burial of 1,000 lotus
flowers." But the shreds of paper will see new life in another form,
as Hsu plans to use the brilliantly colored scraps to create a paper
sculpture sometime in the near future.
The artist has dubbed the sculpture project, which will
symbolize a rebirth after a painful gestation, the "spirit of the
lotus flower."
To Hsu, he was not merely shredding 1,000 sheets of paper, but
severing himself from a 15-year period in his artistic career. He
said he performed the symbolic act of breaking away because of his
"wholehearted devotion to art."
"This marks the beginning of a new phase in my painting career,"
the 44-year-old artist explained. He said he took the radical step of
disposing of his artistic past "without any regret."
Stating the obvious, Kao Chung-yun, curator of the memorial
hall, said Hsu's display-and-demolish exhibition was the first of its
kind in Taiwan.
Kao noted that the unusual event combined into one setting
several forms of art, including painting, installment art and
movement art, not to mention the promise of new life through
sculpture. For this, the curator called the show an example of
conceptual art, which has been on the rise globally in recent years.
According to Hsu, there was a serious message behind the
destruction of the paintings that took him a third of his life so far
to create. "No matter what has happened, if you keep persevering you
will make it in the end," he said.
Hsu said he now plans to devote the rest of his career to
painting a vast new harvest of lotus paintings. His goal is to
produce another 10,000 such works before he dies.
"Then one day, when I finish the 10,000th one, I will hold
another 'burial' exhibition of the lotus paintings, putting an end to
my artistic career," Hsu said.
Born in 1951, Hsu has been a frequent winner of art awards since
he was in elementary school. In 1972, he graduated from National
Taipei Teachers College, and in the same year held his first solo
exhibition on the island.
The debut exhibition won Hsu high praise in art circles across
Taiwan, and the sudden fame encouraged him to make painting his
lifetime pursuit. In the early stage of his career, he concentrated
on painting snow landscapes, a rarity in subtropical Taiwan.
"Every winter, I would climb to the top of Mount Hohuan to
sketch," Hsu said. "At that time, there were few local artists who
painted snow scenes because it does not snow in Taiwan except on the
highest peaks."
But the subject that would become his favorite to paint was at
the opposite extreme of the popularity spectrum. While practically no
one was painting snow scenes, everyone--professional and amateur
alike--was painting or photographing the classically structured
lotus.
Hsu's love-hate relationship with the aquatic flower started
accidentally. One day years ago, he was invited by a friend to visit
Taipei's Botanical Garden, a popular sightseeing spot. The purpose of
the trip was to sketch the large, fragrant lotuses that cover the
pond there with a blanket of blooms.
"At the time, I had little interest to go because there were
already so many Taiwan artists who were painting lotus scenes," Hsu
said. But he accompanied his friend anyway. "And as soon as I
finished the first stroke, I fell in love with the lotus and could
not stop drawing the flower," he added.
To those who are close to Hsu, it came as no shock to learn that
he was compelled to suddenly trash his 15-year crop of lotus
paintings, all in the name of artistic rebirth. His close friends
know him as a man with a lively temperament, one who is prone to
quick shifts yet also capable of deep, powerful emotions.
Hsu accepts this description of himself. Moreover, he suggests
that his personality is reflected in his painting style. Just as his
ideas are spirited, his brush strokes are vigorous, yet they result
in flower scenes that convey both delicacy and balance.
"Lotus painting is very suitable to me," Hsu said.
Since ancient times, the lotus has been an object of adoration
for Chinese artists of different genres. Down through the dynasties,
painters have portrayed the flower while poets and writers have
eulogized it.
Though it sprouts from mud, the lotus bloom rises on a long stem
high above its humble origins. For this, the lotus has been described
by Chinese men of letters as a symbol of purity and chastity, as a
noble flower with a graceful carriage.
In Buddhism, the lotus is symbolic of both the wise and
compassionate Buddha and the spiritually perfect state of Nirvana.
Sung Dynasty scholar Chou Tun-yi, in one of his literary
masterpieces, praised the beauty of the lotus and also compared the
flower to a man of virtue. Chou's famous laudations helped boost the
status of the lotus in Chinese society.
In April of each year, the lotus buds awaken from the thick mire
in the shallows of the ponds. In May, the lotus flowers begin to
blush pink on the water's surface and during the summer they reach
full bloom, turning the pond itself into a completed canvas. Between
October and November, the flower petals wither and die, but the lotus
seeds plunge back into the moist pond bed to emerge again next
spring.
The ancient Chinese declared June 24 of the lunar calendar the
birthday of the lotus flower. On this special occasion it was
customary to stroll with family and friends around local ponds to
appreciate the colorful flowers.
Having inherited such a rich cultural legacy, contemporary
artist Hsu faced the problem of how to distinguish himself from the
innumerable lotus enthusiasts down through the centuries. Then the
bizarre struck him: Express affection through abandonment.
The idea to rip up his paintings came to Hsu one day during a
return visit to the Botanical Garden. While he was painting beside
the pond, two art students came over and asked for some advice. Hsu
told the young men to improve their technique by observing and then
sketching each lotus individually.
"By the time you have finished 1,000 lotus drawings, you will
have become skillful in the craft," Hsu told them.
Obviously, Hsu is one who practices what he preaches. For the
past 15 years, every day between April when the flowers bud and
November when they fade, Hsu has painted lotus scrolls beside the
pond at the Botanical Garden. And when he reached the 1,000th
rendition, he stepped away to a higher artistic plane.
Hsu's pond sessions always last as long as there is natural
light, from dawn till dusk. Hsu has observed that the flowers have a
different kind of beauty according to the time of day. For example,
he explained, the lotus is the most beautiful early in the morning
when there is still dew on the soft petals and green leaves.
"It looks as innocent as a child's face," the artist said.
But he is also in awe of lotuses in full bloom under sunshine.
"The flowers flutter in the breeze as if they are chatting and
dancing at a party," Hsu said.
The painter even respects the way the flowers bow out each fall,
keeping their beauty until the pond surface is thick with discarded
petals. "Lotuses stay beautiful right to the end," he noted.
Perhaps Hsu's profound appreciation of lotuses is rooted in his
knowledge that their mass autumnal funeral is a necessary departure
that will one day yield an even greater flowering.
------------------------------------------------------------------------------
10: A bountiful year for the ROC
BL: FCJ Editors
The year 1995 was for the most part a strong one for the
Republic of China and the 21 million people in the Taiwan area.
Politically, the year was born in the afterglow of successful
elections at the tail-end of 1994 for Taiwan provincial governor and
Taipei and Kaohsiung mayors. They were the island's first democratic
elections for these posts, consolidating the foundation of
constitutional democracy in line with the ROC Constitution.
Party politics matured over the course of 1995, and its roots
took firmer hold with elections to the Third Legislative Yuan on Dec.
2. The elections provided a sound mapping of the political sentiment
of the people of Taiwan and set the stage for the first-ever direct
presidential election in Chinese history, 10 weeks from now on March
23.
On the economic front, the growth rate in 1995 was lower than
initially projected due largely to a downturn in domestic
consumption. The property market, which has been an engine for
economic growth for many years, grew unstable after political
tensions rose in the summer between Taiwan and mainland China.
Exports, however, hit new records throughout the year. Taiwan
finished the year still ranked with the world's second highest
foreign currency reserves. Domestic inflation was kept within a
reasonable level. There was a slight increase in unemployment but the
problem remained far from serious.
Last year witnessed great strides in promoting social welfare to
elderly citizens, the handicapped, and the poor. New measures were
also adopted to enhance the well-being of children and women. The
implementation of national health insurance, which covers everyone in
Taiwan, marked a new milestone in transforming heightened social
concerns into sound and practical programs.
The ROC's international profile improved as more countries
strengthened relations with Taipei. Many benefits resulted. China
Airlines, for example, started a weekly flight to Italy, thus
expanding Taiwan's passenger flight service to Europe. President Lee
Teng-hui's landmark visit to the United States in June highlighted
the ROC's international activities.
Relations across the Taiwan Straits started on a promising note
when mainland President Jiang Zemin offered a peace overture early in
the year. Unfortunately, Peking upset the applecart by firing
missiles and conducting threatening military exercises near Taiwan to
show its anger over Lee's U.S. visit. Peking has since refused
Taipei's call to restart dialogues, perpetuating the tension.
Hence, except for the unexpected decline in cross-Straits
relations, 1995 was a productive and rewarding year for the people of
Taiwan. The island seems to have entered a new and reconstructive
era, as democracy has been effectively consolidated amid challenges
at home and from abroad.
------------------------------------------------------------------------------
11: Hong Kong transition will test changes in rule of law
BL: Frankie Leung
What are the key elements of rule of law? Briefly stated, they
are judicial independence, equality before the law, preservation of
the judicial power to review administrative or executive actions,
governmental policies institutionalized and introduced through the
process of legislation, and due process in the dispensation of
justice.
The best way to analyze the future rule of law in Hong Kong is
by reviewing the Basic Law, promulgated on April 4, 1990, which will
become Hong Kong's Constitution after June 30, 1997. The ultimate
power to interpret the Basic Law lies with the Standing Committee,
which consists of members of the National People's Congress who meet
regularly.
That is a clear departure from the pre-1997 Hong Kong legal
system, where the ultimate power of constitutional interpretation
falls within the jurisdiction of common-law lawyers--albeit foreign
judges--sitting in the Judicial Committee of the Privy Council in
London. Because of a transfer of sovereignty, such a change from a
common-law system to a hybrid system cannot be resisted.
The language and drafting style of the Basic Law follows and
more closely resembles the 1982 mainland Chinese Constitution than a
typical statute found in a capitalist country. For example, Basic Law
Article 37 reads: "The freedom of marriage of Hong Kong residents and
their right to raise a family freely shall be protected by law." One
can see its parallel in Article 49 of the mainland's constitution:
"Marriage, the family, and mother and child are protected by the
state. ... Violation of the freedom of marriage is prohibited."
Language of that type would not have been found acceptable if
the Hong Kong Legislature were to enact such a piece of legislation.
The drafting style of the Basic Law fundamentally reflects the
doctrinal orientation of the mainland government.
The Basic Law is part of the corpus of laws of the People's
Republic of China's central government. Thus, it is anticipated that
the mainland's style of constitutional interpretation, which allows
mainland policies to be considered, will also be adopted for Hong
Kong. However, whether and how the National People's Congress will
ever take up the constitutional task of interpreting the Basic Law is
not certain.
The appointments of judges in Hong Kong could also be subject to
political vetting. Such vetting could be a corrosive influence
working against the rule of law. For instance, a Hong Kong judge may
have to think twice if he decides to rule against a powerful
litigant, whether it is the government or a commercial entity backed
by governmental interests. If that takes place, even at a subtle or
subconscious level, the principle of equality before the law will be
undermined.
Several Basic Law provisions governing the future relationship
between the central government and Hong Kong also create uncertainty.
For example, under Basic Law Article 19, besides national defense and
foreign affairs, what other "politically sensitive" issues--under the
umbrella of "acts of state"--will preclude the Hong Kong judiciary
from assuming jurisdiction is a major controversy.
Such a legal conundrum, if given an expansive interpretation,
would preclude the Hong Kong courts from hearing matters or cases,
predetermined by the central government or other designated agencies,
as "acts of state" matters. These areas need to be demarcated and
defined with clarity to avoid a potential constitutional crisis.
The post-1997 Hong Kong legal system will undergo a process of
"Singaporization." Singapore has performed brilliantly as an economic
entity and its legal system serves commercial interests more than
adequately, although it has been repeatedly criticized by Western
journalists as falling short of the standard of Western democracies.
Singapore thus sets a powerful example for the mainland to adopt and
for Hong Kong to emulate. Particularly, the more successful Singapore
is economically, the more attractive it becomes as a blueprint for
Hong Kong.
Whether Hong Kong will nevertheless continue to prosper, with
its legal system not performing at the same level as it used to, is
not yet known. The powerful argument that can be advanced, assuming
that the mainland remains persuadable and pays heed to economic
considerations, is that if the rule of law continues to serve Hong
Kong's economic interests, as it should, the central government will
likely think twice before meddling with it.
Such a pragmatic approach is better suited than one that
advocates abstract notions and exalted ideals, which inevitably will
bring Hong Kong into direct confrontation with the mainland's
xenophobic attitude and rigid ideological dogma.
--Frankie Leung, a Los Angeles attorney, is a lecturer on
Chinese law at Stanford University School of Law and an adjunct
professor at Loyola Law School.
------------------------------------------------------------------------------
PART II -- end --