China, Taiwan Set Stage for Free-Trade Deal

A free-trade deal that is expected to be signed between China and Taiwan next year would contribute 1.65% to 1.72% to Taiwan's gross domestic product, and create 263,000 jobs for some of the island's 23 million people once the two markets are fully open to each other, reports the Wall Street Journal, citing a Taiwan government study.

 

According to the newspaper, the onetime enemies are launching key talks next week toward a trade pact that would reshape East Asia's economics and politics.

 

The Post says that the talks are expected to result in the signing next year of the Economic Cooperation Framework Agreement (ECFA) which could bind Taiwan to its giant neighbor to an unprecedented level, removing decades-old barriers in Taiwan to investment from China.

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