Sino File | Taiwan’s economy can’t distract from Tsai’s troubled first year
Bad personal poll numbers and cross-strait woes make it a mixed bag for Taipei’s first female president on anniversary of inauguration
But the leader of the independence-leaning Democratic Progressive Party has not fared as well politically; relations with China have soured and her approval ratings have plummeted.
Tsai became the self-governing island’s first female leader on May 20 last year, after beating the Beijing-friendly Kuomintang (KMT) in a landslide.
Beijing planning new approach to Taiwan affairs
The economic figures might give Tsai and her supporters at least one reason to rejoice. When Tsai took office, Taiwan’s economy had shrunk for three quarters in a row. The Taiwan dollar was at its weakest since 2009.
But TAIEX, the island’s main stock exchange, climbed to a 17-year high last week, above 10,000 points. The benchmark has jumped 23 per cent on Tsai’s watch, outperforming most regional peers. The Taiwan dollar was also the best-performing Asian currency last year.