August 18:
The Ministry of the Interior announced a proposed amendment: Individuals who lose their Taiwanese status due to holding a mainland Chinese passport or household registration will face a new policy of "denial by default, exception by approval" when applying to restore their status. Applicants must meet criteria such as making significant contributions to national defense and security. This move has sparked concerns over potential constitutional violations and restrictions on citizens' freedom of movement, with critics accusing the ruling Democratic Progressive Party (DPP) of pressuring Taiwanese people not to study or do business in the mainland, warning that they may be unable to return home.
August 19:
According to Japanese media, Japan and Taiwan have signed a memorandum of cooperation aimed at preventing espionage during potential Taiwan Strait conflicts or border instability in Japan. The report noted that signing such a memorandum under the premise of a "Taiwan contingency" is rare. The Ministry of Foreign Affairs responded that sharing entry and exit information for individuals posing security risks is an international trend but clarified that no memorandum specifically addressing a "Taiwan contingency" has been signed between Taiwan and Japan.
August 19:
The Statistics Department, Ministry of Economic Affairs, announced that Taiwan's second-quarter manufacturing output reached NT$5.3 trillion (about US$176.4 billion), marking a year-on-year increase of 11.1 percent and six consecutive quarters of growth. However, while the information and electronics sectors remain strong, traditional industries have seen sharp declines, particularly in chemical materials and fertilizers, which dropped by as much as 20 percent, exacerbating industrial imbalance.
August 21:
The Executive Yuan approved the central government's budget proposal for the next fiscal year, with national defense spending reaching a record NT$949.5 billion (about US$31.1 billion), accounting for 3.3 percent of gross domestic product (GDP) and reflecting a 22.9 percent annual increase. The Executive Yuan stated that adjustments to military, police, and firefighter compensation fall under "controversial budget items" and will only be disbursed after constitutional review confirms legality, prompting strong criticism from opposition parties.
August 21:
Under continued pressure from foreign capital outflows, the New Taiwan Dollar depreciated past the NT$30.5 per U.S. dollar threshold, hitting a three-and-a-half-month low. The currency's cumulative appreciation for the year has narrowed significantly to 7.4 percent. Trading volume in the foreign exchange market has surged, reflecting heightened capital movement.
August 22:
The Cabinet and national security team have initiated personnel changes. Ambassador Alexander Yui, representative to the United States, will be replaced by Deputy Secretary-General Hsu Szu-chien of the National Security Council, pending White House approval. Yui will be re-assigned as representative to Spain. Minister of Economic Affairs Kuo Jyh-huei, whose public statements have often sparked controversy, has resigned. He will be succeeded by Secretary-General Kung Ming-hsin of the Executive Yuan, who has expertise in finance and economics. Deputy Secretary-General Chang Tun-han of the Office of the President will take over Kung's role.
August 22:
Following the U.S. Department of Commerce's proposal on August 20 that Intel must exchange 10-percent equity for federal subsidies under the CHIPS Act, speculation has surged that this model could extend to the Taiwan Semiconductor Manufacturing Company (TSMC), Samsung, and Micron. The rumors have impacted TSMC's stock price; the company's market capitalization briefly fell to NT$29.95 trillion (about US$979.6 billion), wiping out NT$1.29 trillion (about US$42.5 billion) in market value. Initially, TSMC declined to answer hypothetical questions. But on the evening of August 22, Chairman C.C. Wei responded to the media, sharing that the White House has already announced it will not take equity.
August 23:
Although the referendum to restart the Third Nuclear Power Plant received over 4.3 million votes in favor, more than 70 percent of the total, it failed to meet the legal threshold and was declared unsuccessful. The second wave of recall cases against seven opposition legislators also all failed. President Lai stated that he respects the outcome and understands the public's expectations for diverse energy options. He also mentioned that he has persuaded Premier Cho Jung-tai to remain in office. With all recall efforts concluded, Chairman Eric Chu of the Kuomintang (KMT) officially announced his plan to pass the baton and earnestly asked Taichung Mayor Lu Shiow-yen to take on the role of party chair. |
