Taiwan's Ma Admits Pension Plan Problems
Thursday January 31, by Jerome F. Keating Ph.D.
Taiwan's President Ma Ying-jeou recently announced that there will be pension reforms to the current system. In saying this, Ma described the Pension Plan as a runaway train that is traveling toward a cliff. All well and good--there may be some comfort in Ma admitting this, but an obvious questions follows.
If the pension plan is a runaway train heading toward a cliff, why did Ma do nothing for the first five years of his presidency?
The runaway train pension program is one of the many unfortunate remains of Ma's party from the KMT one-party state system that allowed a few to get rich but left the others paying for it; Add to that the fact that while the runaway train continued to gain momentum in the last five years of Ma's presidency, what has he been doing?
Has he been asleep at the wheel? or was he still dreaming dreams of how he was going to deliver 6-3-3??
When will Taiwanese start to connect the dots??