1/ Watch as a purported "journalist" covering East Asia and VP of the Taiwan Foreign Correspondent's Club commits journalistic malpractice on his TL
2/ The article William links has the following block of text. William assumes that most of his audience can't read Chinese so he purposefully mistranslates the text to make China seem like a guilty party in blocking Taiwan's access to COVID vaccines
3/ The text states that Taiwan island's Ministry of Health and Welfare was directly attempting to purchase 5M COVID vaccine doses from BioNTech (和德国BioNTech公司直接洽购500万剂疫苗)...
4/ ...but Minister Chen was worried about external interference in the deal because BioNTech had given sales rights of the COVID vaccine across the Greater China region to a mainland Chinese company (由于德国BioNTech公司将台湾在内的大中华地区代理权都授权给中国的上海复星医药公司)
5/ Note that, in effect, Taiwan island was asking to be excluded from BioNTech's definition of Greater China - a business term which includes mainland China, HK, and TW - and bypass the Chinese intermediary which was BioNTech's sales agent
6/ If BioNTech let Taiwan island's health ministry buy from them directly, they would be violating their own contract with their Chinese sales agent (Fosun) because Greater China includes Taiwan. Taiwan never sought to sign an agreement with BioNTech's agent in Shanghai...
7/ ...nor did Fosun block Taiwan island's attempt to purchase vaccines. This delay in the vaccine purchase was purely because of Taiwan island's attempt to say "we're not a part of Greater China" when the business world has put them there for 30 years in 000s of contracts
8/ Note this was also timed during December 2020. The DPP was asking Germany to signal its agreement that Taiwan island is not a part of Greater China while the EU was negotiating the #CAI with China. TW was hoping to force a wedge issue and derail the broader #CAI
9/ William skips all that and instead tries to make it seem like Fosun is blocking vaccines from reaching Taiwan island, when instead it is Taiwan that is refusing to deal with them as the designated sales agent for Greater China
10/ And before you think "what's the big deal in changing a definition" - remember the term "Greater China" has been used in countless business contracts, so for TW to force a change in that definition would invalidate ALL those agreements, hurting business across the region
11/ And besides missing that point, William also skips over how Taiwan island escalated to blockading German carmakers of TSMC chips to try and armtwist Germany and BioNTech into unilaterally altering their contract
end/ Tsai's regime thinks these antics, combined with sympathetic media coverage, comprise a winning strategy. But off Twitter - where decisions are really made - the regime is viewed as run by children. And more and more important people now want the adults back in charge.

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More from @TheDailyMao

18 Feb
Imagine being Angela Merkel and being told Taiwan island wants a contract between a German company and a Chinese company invalidated, or else it will blockade unrelated German companies of chips and place the global recovery from the COVID recession at risk
Imagine then being told Tsai is doing this purely for PR reasons so she doesn't have to be seen acknowledging Greater China includes Taiwan
And on top of all this, being told that this is how Taiwan is repaying the EU for stopping EUVL deliveries to TSMC's main competitor, SMIC
Read 4 tweets
17 Feb
Interesting that Biden, unprompted, decided to frame Xinjiang, HK, and TW through the same lens of China trying to maintain Chinese unity, and also only criticized the use of force by China while implying the 1 China policy is valuable. That's gotta hurt for the DPP
This aligns with what I've heard, that the DPP trying to yank the world's chain with a chip shortage has not gone down well with Team Biden
Specifically Biden now views the DPP as a net detractor from Biden's initial goal of fixing transatlantic relations
Read 5 tweets
16 Feb
1/ One of the contributing factors to Taiwan's seemingly nonsensical arms purchases and TSMCs ridiculously capex-heavy business model may be the island's need to have a structurally undervalued currency to balance out its life insurance and pension liabilities
2/ This is because, since 2010, pensions and life insurers on the island have piled into dollar assets without hedging their currency risk, which means if the NTD appreciates too much vs the dollar, they could become technically insolvent
3/ So to keep the NTD down, TW has accumulated forex reserves which are now equivalent to almost 80% of its GDP. This is not bad per se, but creates large potential losses for the central bank if the NTD appreciates and raises the risk of being branded a currency manipulator
Read 7 tweets
12 Feb
Good intent, but any plan for "peacefully preserving Taiwan's autonomy" that leaves out the cessation of Huawei sanctions and artificial chip shortages - ie ending TWs undeclared economic war on the mainland - will not lead to peace across the straits
At the end of the day, mainland China cares very little about what new names the DPP chooses for a random memorial. It cares much much MUCH more about TW choking its electronics industry and lobbying for sanctions on its chip designers and fabs
TWs hypocritical and self-destructive calls for "shifting supply chains out of China" while making 27% of its GDP from exports to China has not gone unnoticed in Beijing. The new consensus in the PRC govt is that TW politics has become permanently irrational
Read 8 tweets
10 Feb
1/ Getting a sense that the DPPs recent antics with TSMC are not being appreciated in the Biden admin, to say nothing of the EU
2/ The DPP is anxious because current trends that by 2025, China, the US, and/or Korea will be at or near parity with TSMC, and INDOPACOM will be unable to defend Taiwan even if it commits a sizeable % of its assets
3/ Which means if the DPP doesn't secure a hard security guarantee - something like a US tripwire on Taiwan in the next few years, they have no outs
Read 8 tweets
9 Feb
This isn't good. Both China and the world benefit from the Chinese people having a global voice. Shutting off a channel - however imperfect - is counterproductive. Some of the discussions were finally improving as well, after the auntologist-led sessions of the past few days
What's more, encouraging mainlanders, HKers, and TWese to commingle and chat is the best way to heal the divides that feed political extremism on both sides of the strait.
It can create a lasting political consensus for solving the cross-straits problem without firing a shot, as people discover the other side is not monsters drawn out of a nightmare but ordinary people whose dreams are similar to their own.
Read 4 tweets

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