Brian Hioeby Brian Hioe
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Photo Credit: Lai Ching-te/Facebook
IN HIS NATIONAL DAY address, President Lai Ching-te focused to an unusual extent on the economy. Cross-strait issues were brought up, but only near the tail end of the speech.
Specifically, Lai’s speech tried to reframe Taiwan’s economic performance in a strong light. Early on in the speech, Lai brought up that Taiwan’s GDP growth rate had gone from 3.3% to 5.1%, a higher growth rate than other East Asian Tigers and more than China. To this end, Lai touted strong growth in exports for Taiwan, new highs for Taiwan’s stock market and foreign exchange reserves, as well as the lowest unemployment rate in over 20 years.
It may not be surprising that Lai brought up Taiwan’s critical role in global supply chains, particularly with regard to semiconductor manufacturing. Lai stated that TSMC and other Taiwanese giants in the field were the collective property of all Taiwanese and that it was his job as president to protect the interests of Taiwanese.
Even so, Lai stressed the economic challenges faced by Taiwan. Among those listed by Lai were the impact on traditional industries and small-to-medium-sized industries from economic transition, tariffs from the US, as well as global shocks from the Russian invasion of Ukraine and conflicts in the Middle East.
Going forward, Lai placed great emphasis on efforts to encourage growth. Lai stated that Taiwan’s medical industry would be built up, to make it a “Holy Mountain” that could protect Taiwan, similar to how TSMC is often nicknamed. As in past speeches, Lai also stated that efforts would be made to build up Taiwan’s strengths in the emergent field of AI, as well as to boost integration of AI into other industries.
Other comments by Lai on social policy were more typical. Lai stated that measures would be rolled out to provide opportunities for young people, as well as take care of the elderly, and allow young couples to start families. There was less discussion of social housing compared to past years.
When Lai turned to the issue of cross-strait relations, Lai’s comments were often centered on defense. Lai stated that Taiwan’s ongoing initiatives to build up non-red supply chains for defense and to boost all-of-society resilience would continue. Lai announced that the T-Dome, a new air defense system, would be implemented, as well as that the defense budget would increase to 3% this year and 5% by 2030. Lai dovetailed efforts to build up Taiwan’s defense capacity with its resilience in the face of natural disasters, as observed in the outpouring of support for Hualien after it was hit by a typhoon, with thousands of volunteers traveling to Hualien to assist in disaster relief.
Lai dovetailed cross-strait relations with the specter of past historical aggression. Lai brought up the 80th anniversary of World War II and stated that its outcome showed the fate of aggressors who seek to annex other nations, as well as that World War II was an example of when the international community stood up to authoritarianism. Lai stated that Taiwan would defend the status quo, but criticized China for distorting UN Resolution 2758.
The international world, especially the US, often places undue focus on whether Lai or any other Taiwanese president refers to “Taiwan” or the “ROC” in National Day addresses. Lai’s framing at the end of his speech was instructive, in that he closed on the note of “Let’s keep going, Taiwan! Let’s keep going, Republic of China! Let’s keep going, Republic of China Taiwan!”. Repeating “ROC” to placate the US is not a priority for Lai, but it hardly is that, as some in DC apparently think, that this is an effort to provoke the US.
It is telling that, after the defeat of the recalls, Lai has placed greater priority on selling the DPP’s accomplishments on the economy. As the recalls were primarily focused on the China threat in messaging, this did not appeal to swing voters or voters in areas that voted for the KMT during the last election. But, even if the numbers show strong growth for Taiwan, if the effects of Taiwan’s growth are not felt by average members of the citizenry, the DPP will continue to be punished electorally over the perception that Taiwan is not, in fact, doing well economically.