Chu proposes economic policy of ‘Three Bows and Four Arrows’

by Chia Lee

 

The Kuomintang presidential candidate Eric Chu held a press conference on Monday, proposing his series of economic policy aimed at rebooting Taiwan’s industrial growth.

When asked about his reaction to the Democratic Progressive Party (DPP) presidential candidate, Tsai Ing-wen’s “Go-South Policy,” Chu stressed that Mainland China’s “Red Supply Chain” and Taiwan’s supply chain are not necessarily mutually exclusive.

Explaining the “Three Bows and Four Arrows” policy, Chu said that the Three Bows refer to the enhancement of technological strength, the execution of ‘Industry 4.0’, and the establishment of Taiwan as a free economic island; the Four Arrows were applied to the establishment of private brands with fully-autonomous supply chain, import-substitution for upstream industries, the maintenance of downstream suppliers, and product differentiation.

Chu stressed that the policy of “Three Bows and Four Arrows” is aimed at rebooting Taiwan’s industrial growth. To make it work, “the bows must be strong, and the arrows must be sharp,” said Chu.

Confronted with questions about whether Mainland China will hinder Taiwan’s desire for TPP (Trans-Pacific Partnership) and RCEP (Regional Comprehensive Economic Partnership) accession, Chu said that he had gained support from the U.S. for Taiwan’s participation in the second round of TPP negotiations, during his tour in the nation, in which he was met with Ed Royce, the Chairman of the House Foreign Affairs Committee.

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