Ke Wenzhe is embroiled in a controversial storm in political donation, while Ukraine and Russia face cross-border tensions. Former US Treasury Secretary Samel opposes political interference with the Federal Reserve. Plus, the Chinese government's move sparks dissatisfaction in Taiwan. Stay informed about these political developments and their potential implications.
Sources:
https://news.ifeng.com/c/8bxMNO05PAU
https://www.dw.com/zh/%E8%B7%A8%E8%B6%8A%E8%BE%B9%E7%95%8C-%E4%B9%8C%E5%85%8B%E5%85%B0%E7%AA%81%E8%A2%AD%E5%BA%93%E5%B0%94%E6%96%AF%E5%85%8B/video-69899142
https://finance.sina.cn/usstock/mggd/2024-08-10/detail-inciaqxw5346727.d.html
https://www.voachinese.com/a/china-official-website-adding-sepcial-column-to-punish-diehard-taiwan-independence-advocates-causing-uproar-in-taiwan-20240808/7735370.html
Outline:
(00:00:00) Introduction
(00:00:40) Ke Wenzhe is in a controversial storm in political donation, You Shuhui is sour: Another "gold affairs" couple
(00:02:28) Cross -border Ukraine raid Kurusk
(00:04:02) Former US Treasury Secretary Samel opposes political interference with the Federal Reserve's expected September or 50 basis points to cut interest rates
(00:06:07) The Chinese government's official website has added a column of "punishing 'Taiwan independence' stubborn molecules" and reporting emails caused dissatisfaction in Taiwan.
Simply Politics, from China
Political Controversies in Taiwan and Ukraine, Former US Treasury Secretary Opposes Interference
Ke Wenzhe is embroiled in a controversial storm in political donation, while Ukraine and Russia face cross-border tensions. Former US Treasury Secretary Samel opposes political interference with the Federal Reserve. Plus, the Chinese government's move sparks dissatisfaction in Taiwan. Stay informed about these political developments and their potential implications.Sources:https://news.ifeng.com/c/8bxMNO05PAUhttps://www.dw.com/zh/%E8%B7%A8%E8%B6%8A%E8%BE%B9%E7%95%8C-%E4%B9%8C%E5%85%8B%E5%85%B0%E7%AA%81%E8%A2%AD%E5%BA%93%E5%B0%94%E6%96%AF%E5%85%8B/video-69899142https://finance.sina.cn/usstock/mggd/2024-08-10/detail-inciaqxw5346727.d.htmlhttps://www.voachinese.com/a/china-official-website-adding-sepcial-column-to-punish-diehard-taiwan-independence-advocates-causing-uproar-in-taiwan-20240808/7735370.htmlOutline:(00:00:00) Introduction(00:00:40) Ke Wenzhe is in a controversial storm in political donation, You Shuhui is sour: Another "gold affairs" couple(00:02:28) Cross -border Ukraine raid Kurusk(00:04:02) Former US Treasury Secretary Samel opposes political interference with the Federal Reserve's expected September or 50 basis points to cut interest rates(00:06:07) The Chinese government's official website has added a column of "punishing 'Taiwan independence' stubborn molecules" and reporting emails caused dissatisfaction in Taiwan.
- Duration:
- 8m
- Broadcast on:
- 11 Aug 2024
- Audio Format:
- mp3
Good morning, and welcome to Simply Politics from China. It's Sunday, August 11th. On today's show, Kwen-J finds himself in a controversial storm over political donations while Yushui expresses discontent as another gold affairs couple emerges, plus a cross-border raid in Ukraine raises tensions. Let's coverage in more, up next. I'm David, and you're listening to Simply Politics from China. We start off with Taipei Mayor Ko Wenjie who finds himself at the center of a controversy surrounding political donations. Taipei City Councilor Yushui of the Kuomintang KMT has strongly criticized those who in her words do not apologize or reflect on their rogue law-breaking and instead shift the blame for their own crimes. She has referred to them as another pair of money-obsessed couples. To discuss this further, we have Celeste with us. Can you shed more light on this situation? Certainly, David. Yushui has taken to Facebook to voice her criticism. She posted a comparison of photos of Chen Shui-Bian and his wife with Ko Wenjie and his wife. In her post, she accuses them of setting up their own company and engaging in transactions to launder public funds and political donations into their own political cash. She even suggests that they've involved their son as a figurehead in these activities. That's quite a serious accusation. What else did Yushui say in her post? She didn't hold back in her criticism. She accused them of constantly running for office and making money, and expressed disgust at their accusations of greed towards others. She also made a statement about having criminal intent but not committing the act, suggesting that this usually means they didn't have time to commit the act. She believes that these individuals are a standard case of rogue law-breaking and criticizes them for not apologizing or reflecting on their actions. And how has Mayor Ko Wenjie responded to these accusations? Because of now, there hasn't been a public response from Mayor Ko Wenjie or his wife. It remains to be seen how this controversy will unfold and what impact it may have on their political careers. Thanks for the update, Celeste. Shifting our focus to another developing story, Moscow has reported that at least 1,000 Ukrainian soldiers entered Russian territory on Tuesday. The Russian military claims to have halted the advancement of the Ukrainian forces and local officials in Kursk have also reported the evacuation of about 3,000 civilians. To discuss this further, we have Abby with us. Can you provide more details on this situation? Certainly, David. This is a significant development in the ongoing tensions between Russia and Ukraine. Moscow's claim of at least 1,000 Ukrainian soldiers crossing into Russian territory is a serious one. The Russian military has reportedly taken measures to prevent these forces from advancing further. And what about the civilians in Kursk? What's the situation there? Local officials in Kursk have reported the evacuation of approximately 3,000 civilians. This is presumably a precautionary measure in response to the reported incursion by Ukrainian forces. The safety of civilians is a major concern in such situations. What can we expect in the coming days in light of these developments? It's hard to predict with certainty, David. However, this incident is likely to escalate tensions between Russia and Ukraine. Both sides may engage in further military and diplomatic maneuvers in response to this event. The international community will be watching closely as the situation has potential implications for regional stability. Thanks for the update from China, Abby. Using our focus to the US, former Treasury Secretary Lawrence Summers has issued a warning against allowing presidents to intervene in monetary policy making. He argues that such involvement would ultimately harm the economy over time. To discuss this further, we have James with us. Can you provide more context on this? Certainly, David. Summers' comments come in response to statements made by Republican presidential candidate Donald Trump, who suggested that the president should have some say in Fed policymaking. Trump, who urged Federal Reserve Chairman Jerome Powell to ease policy while in office, argued that in many cases, his instincts were better than those of Fed officials, and what was Summers' response to Trump's proposal? Summers was quite critical of Trump's proposal. He expressed shock at the idea, arguing that the president has many responsibilities and a less close relationship with the economy than the 19 Fed governors and presidents, who constantly review every economic statistic. He stressed that countries around the world have long given central banks' independence due to the serious conflicts of interest politicians have when it comes to monetary policy. What are the potential consequences of such political involvement, according to Summers? Summers warned that officials would always be tempted to print more money and lower interest rates to boost the economy. He said such pressure raises people's inflation expectations and pushes up long-term interest rates, resulting in higher inflation without any substantive output growth. And what about the Fed's policy decisions? What is Summers' view on that? Summers believes that based on the current facts, any emergency rate cut is not justified, given that market volatility and stock market declines have eased since the turmoil on Monday. However, he did suggest that a 50 basis point rate cut may be appropriate at the September policy meeting. Thanks for that insightful perspective on monetary policymaking from our China correspondent, James. Shifting gears to cross-straight relations, a recent move by the Chinese government to add a special column and a reporting mailbox for punishing stubborn Taiwan independence elements on its official website has sparked dissatisfaction in Taiwan. Both the ruling and opposition parties in Taiwan believe this move hampers cross-straight exchanges between Taiwan and mainland China. To discuss this further, we have Michael with us. Can you provide more details on this? Certainly, David. This move comes after Beijing released the 22 opinions on punishing stubborn Taiwan independence elements on June 21st. The new column titled Punishing Stubborn Taiwan Independence Elements in accordance with the law and a dedicated reporting mailbox have been added to the official websites of the Taiwan Work Office of the Central Committee of the Communist Party of China and the Taiwan Affairs Office of the State Council. And who are the individuals listed in this new column? The column lists a total of 10 people as stubborn Taiwan independence elements. Nine of these individuals are former or current government officials, legislators or important cadres of the Democratic Progressive Party including Suu Tseng Chang, Yusei Kun, Joseph Wu, Xiaobi Kim, Kuli, Tsai Chi Chang, Kher Chen Ming, Lin Fei Fan and Wang Ting Yu. The other person, Chen Xiaohua, is a former legislator of the new power party. What has been the reaction from the US government? The US government has not directly commented on this matter but reiterated that Washington's one China policy remains unchanged. And how has Beijing responded to the criticism from Taiwan? Beijing authorities have stated that the establishment of this column only targets a small number of stubborn Taiwan independence elements and does not involve the vast majority of Taiwanese people. A significant development in cross-strait relations indeed. Thanks for that report, Michael. And with that, we wrap up our stories for today. Thanks for listening to Simply Politics from China. We'll see you back here tomorrow. [MUSIC PLAYING] [BLANK_AUDIO]