• Three cheers for Thuli

    Where are South Africa’s men and women of honour, asks Mandi Smallhorne.

  • Structure your pension

    An expert explains the ins and outs of different types of retirement annuities.

  • Inside Labour

    Without radical policy change SA's social fabric will continue to fray, says Terry Bell.

Data provided by iNet BFA
Loading...
See More

Taiwan premier resigns over economy

Feb 01 2013 08:37 AFP

Related Articles

Chinese firms invest $184m in Taiwan

The Taiwan connection

India, China, Taiwan top SA coal importers

Taiwan's HTC, Apple strike global deal

Taiwan university sues Apple over Siri

Taiwan man convicted with Google map help

 

Taipei - Taiwanese Premier Sean Chen said Friday he has stepped down for health reasons, after the cabinet he heads came under fire for its poor handling of the economy.

"I have some health problems ... and I need to completely change my life and work style to reverse the situation," the 63-year-old finance expert told a press conference to announce his resignation.

"I believe that the economy will improve in the coming year. We have worked very hard on the planning for long-term issues and I hope everybody will continue to support the new team."

Deputy premier Jiang Yi-huah, 53, a scholar-turned-politician and a former interior minister, will take over his job, Chen said.

Chen's departure came as Taiwan's economy grew 1.25% in 2012 from a year ago at the slowest pace in three years due to shrinking exports.

Chen, who previously headed the Financial Supervisory Commission, the main industry regulator, had a tense term since taking office as premier in early 2012.

His cabinet frequently came under attacks over the sluggish economy and other controversial policies, with the opposition repeatedly demanding his resignation.

Last year, Chen survived a parliamentary no-confidence vote - only the second in Taiwan history - over what opposition lawmakers deemed as his cabinet's failure to curb rising unemployment and inflation.

Under Taiwan's political system the premier heads the cabinet and is appointed by the president.


Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

taiwan  |  economy
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

“Hippie sense makes business sense,” an entrepreneur said, adding that "purpose" was core to success.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...