Hung: Taiwan Should Not Join AIIB as Chinese Taipei

Photo by Gibsontom4 via Wikimedia Commons

KMT presidential candidate Hung Hsiu-chu issued a statement today in reference to joining the Asia Infrastructure Investment Bank (AIIB). She said that Taiwan’s role in the AIIB should be based on national dignity and equality, according to UDN. She urged Beijing to respect Taiwan’s status and its potential involvement in the bank.

Hung added that Taiwan’s involvement in the bank will help expand international participation in Taiwan, enhance the island’s international status and fulfill international responsibilities, as well as promote national interests.

Although Taiwan was denied founding member status of the AIIB, the Mainland Affairs Council (MAC) has said that it would seek membership in the bank. The MAC has also stated that it would not join under the name Chinese Taipei as it does not represent Taiwan’s population. China insists on Taiwan using Chinese Taipei as its official name when participating in international organizations and events.

China will reportedly hold more than one-fourth of votes in the AIIB, which will give it veto power in some cases, according to Reuters. China insists it will not have veto power, but it could essentially vote down any measure that requires a 75% threshold, such as electing a bank president. Representatives from 50 countries signed articles of agreement for the bank on Monday in Beijing.


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