08.22.2001
Progress with government’s advisory board (EDAC)

• The impact on market sentiment of poor US and domestic economic performance is likely to be counteracted by more good news from the President’s Economic Development Advisory Conference (EDAC) over coming days.

• The government’s recent about face regarding its “independence” election platform (scrapping of the “no haste, be patient” policy) raises the possibility that the DPP may extend an olive branch to the PRC government to kick start official cross strait discussions, bringing about a massive market rally.

• A three-day general meeting is scheduled to begin on Friday to better develop a consensus on 314 proposals that the Conference has already outlined. The president has already pledged to push forward development of cross strait links. Moreover, the opposition party’s chairman has proposed inter-party negotiations to develop legislation to facilitate implementation. The Speaker of the Legislative Yuan has indicated his hope that legislation supporting these new initiatives will be in place by the end of October.