Word: chen
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...defense policy, relaxing a long-standing ban on arms exports to allow sales to the U.S. of components related to the development of a joint missile-defense system. A day earlier, the Cabinet extended by a year Japan's humanitarian military mission in Iraq. Government Gridlock TAIWAN President Chen Shui-bian suffered a setback as his independence-backing Democratic Progressive Party and its ally, the Taiwan Solidarity Union, failed to take control of the legislature. The Kuomintang-led opposition, which favors eventual reunification with China, retained a slim majority, winning 114 seats in the 225-member parliament. Chen was elected...
...Elections for Taiwan's 225-member legislature used to pivot on localized concerns, like whether a county had enough roads. But this Saturday's ballot is proving to be a referendum on the big issues: Taiwan's relationship with China, and Chen's presidency. His narrow re-election in March-just one day after an apparent assassination attempt-left him without a clear mandate and spawned weeks of street protests by the KMT-led opposition. That stretched into acrimonious months of ballot recounts and lawsuits challenging both the vote tally and the circumstances of the shooting incident. Though the courts...
...comprising the DPP and the Taiwan Solidarity Union, sees the island as an independent entity, if not in name then at least in substance. "The green will win a majority [in the legislature] because of the rise of Taiwan nationalism," predicts Luo Wen-chia, a Cabinet minister and longtime Chen aide. "It's a decision of values-Taiwan values." For the KMT, which leads the blue side, this week's ballot is a battle for survival. "If we don't keep the majority, there's nothing left," says Liao Feng-te, head of organization and development...
...victory in the legislative election would give Chen a new mandate to push through two pet initiatives: buying an $18 billion arms package from the U.S., and holding an island-wide referendum on changing the constitution, which was promulgated on the mainland in 1947, to make it more relevant to today's Taiwan. (China considers both moves hostile.) At the same time, Chen has in recent weeks repeatedly pledged that he won't declare independence or have it written into a new constitution. That's not just campaign rhetoric. Though it is Taipei's main backer, Washington is currently enjoying...
...SUSPENDED. CHEN JIULIN, 43, chief executive of China Aviation Oil (CAO); after the company revealed a loss of $550 million on trading in oil derivatives, the largest Asian trading scandal since Barings Bank collapsed in 1995; in Singapore. Chen, who was raised in rural China in a house with no running water, rose to become one of Singapore's highest paid executives after he turned around CAO, the Singapore-listed subsidiary of a Chinese state-owned company, which was given a monopoly on China's jet-fuel imports in 2001. CAO notified its Beijing parent of its growing loss...