Taiwan Current Affairs - 2019

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Tsai Ing-wen elected as first female President of Taiwan

Pro-Independence Opposition candidate of Democratic Progressive Party (DPP) Tsai Ing-wen (59) has been elected as first female and 14th President of Taiwan.

Ms Tsai’s victory is the biggest mandate ever won by a DPP president and is only the second-ever victory for the DPP since Taiwan split with China in 1949.

The first was Chen Shui-bian who also was pro-independence (from China) advocate. During his time as President between 2000 and 2008 tensions had escalated with China.

Background

  • In the 2016 general elections, DPP which leads the camp that wants independence from China led by Tsai Ing-wen emerged victorious with 56% of the total vote share. She defeated Eric Chu of the ruling Kuomintang (KMT) Party that secured 31% vote share.

Comment

  • China sees Taiwan as a breakaway province (island) which will one day be reunited with the mainland. China also has threatened to take back by force, if necessary.
  • The two sides had split in 1949 after then nationalist KMT party had lost to the Chinese Communist Party (CCP) under Mao Zedong and had set up a new government in Taiwan.
  • The KMT Party has ruled Taiwan for almost past 70 years and has overseen improved relations with China in recent times.

Month: Categories: Persons in News

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India imposed Anti-dumping duty on potassium carbonate imports from Taiwan, South Korea

India has imposed definitive anti-dumping duty for period of five years on Potassium Carbonate imports from Taiwan and South Korea.

The duty was imposed by Union Finance Ministry based on the recommendations of the Directorate General of Anti-Dumping Duty (DGAD) that works under the aegis of Union Commerce Ministry.

This move was taken following the findings of Central Board of Excise and Customs (CBEC) which concluded that Potassium Carbonate imports from Taiwan are entering in the Indian market at dumped prices.

The revenue department has imposed anti-dumping duty of 153 US dollar per tonne on Potassium Carbonate imports from Taiwan and 9.45 US dollar per tonne in case of imports from UNID Co Ltd, and 123.86 US dollar per tonne from all other exports from South Korea.

Potassium Carbonate
It is a white inorganic compound available in powder and granules form applicable in the manufacture of GLS Lamps, TV picture tubes, Ophthalmic glasses.

It has also important application in fertilizer industry, drugs and pharmaceuticals and Dyes and rubber industry.

What is Anti-Dumping Duty?

  • It is a trade duty imposed by any government on imported products which have prices less than their normal values in their domestic market.
  • Usually countries initiate anti-dumping probes to check if domestic industry has been hurt because of a surge in below-cost imports.
  • Anti-Dumping Duty is imposed under the multilateral WTO regime and varies from product to product and from country to country.
  • In India, anti-dumping duty is recommended by the Union Ministry of Commerce (i.e. Directorate General of Anti-Dumping Duty-DGAD), while the Union Finance Ministry imposes it.

Month: Categories: Business, Economy & Banking

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