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Taiwan Elects William Lai President for the First Time in History
(VORNews) – In an election that will go down in history, Taiwanese people have selected William Lai to be their president, therefore establishing a course that is becoming increasingly distinguishable from China.
Beijing is enraged by the move, as evidenced by the fact that it made a statement to the effect that “Taiwan is part of China” immediately after the results were announced. Although Beijing has advocated for “peaceful reunification,” it has not completely disregarded the possibility of resorting to force.
The election in Taiwan was portrayed as a choice between “war and peace” by the organization. Over the last several months, China has increased its military posture near the island, which has increased the level of concern about the possibility of a clash. The communist authorities in Beijing hold a harsh opinion of the pro-sovereignty Democratic Progressive Party (DPP), which has ruled Taiwan for the past eight years under Mr. Lai’s leadership.
William Lai became the first president of his party
Mr. Lai made new history when he became the first president of his party to retain office for three consecutive terms. He made it clear in his initial comments upon his opponents’ concession that this trajectory could not be turned back. Moving ahead, the nation will stay on the correct road. At a news conference, he assured reporters from across the globe that the country will not slow down.
At a later rally in Taipei, where tens of thousands of his fans were celebrating, Mr. Lai hailed his victory as a democratic victory. We’ve finished. We refused to be swayed by outside pressures during the election. We decided that no one else could select our president, he explained.
Taiwan had previously claimed that China was trying to tamper with the voting process. China was also the recipient of Mr. Lai’s message. He urged reporters to avoid obstructionism and confrontation in favor of more conversation and exchanges, and he urged stability and peace with Beijing.
He promised to “protect Taiwan from threats from China” while simultaneously promising to “maintain the cross-strait status quo” and refrain from seeking independence or union with China.
Beijing considers Mr. Lai’s previous statements for Taiwanese independence as a red line and has labeled him a “separatist” and “troublemaker” because of them. However, he has since made it clear that he has no intention of seeking independence in his presidential administration.
According to a statement released on Saturday by the Taiwan Affairs Office of China’s State Council, the Taiwanese elections “cannot stop the unstoppable trend of the eventual reunification of the motherland” and the DPP “cannot represent the mainstream public opinion” in Taiwan.
As Taiwan’s most important friend, the United States wasted no time in congratulating Mr. Lai on his victory. Secretary of State Antony Blinken said that Taiwan has a “robust democratic system and electoral process” to thank for helping Lai win.
Keeping the peace and stability across the Taiwan Strait is a top priority for the United States, he stated. According to President Joe Biden’s statement earlier on Saturday, the United States “does not support independence” for Taiwan.
Outside the DPP’s headquarters in Taipei, supporters applauded the outcome. “I’m thrilled right now. Cheng Yu-tsai stated that the majority of Taiwanese people wish to safeguard their democratic lifestyle.
“I don’t care how China reacts. Wei Yi-tsai stated that we must uphold our beliefs, insist on what we believe to be right, and go forward. Mr Lai’s 40% vote share put him well ahead of Hou Yu-ih of the major opposition Kuomintang (KMT) party. Since 2000, Taiwan has alternated between the DPP and the KMT, which is more favorable to Beijing.
Maverick politician Ko Wen-je of the Taiwan People’s Party, a newcomer to Taiwan’s political scene popular among young people, received one-quarter of the vote. On Saturday, voters also selected their legislators.
According to Taiwanese media, the DPP has lost its majority and the opposition is gaining momentum, but no party has enough seats to dominate parliament. According to observers, an opposition-dominated legislature led by a DPP president might complicate Taiwan’s governance process.
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Canadian Man Arrested for TikTok Video That Threatened Trudeau
A TikTok video that went live earlier this week has led to a Toronto man facing charges of threatening Prime Minister Justin Trudeau and Deputy Prime Minister Chrystia Freeland. Andrew Marshall, 61, is facing two counts of uttering threats.
On Friday afternoon, the Ontario Court of Justice granted him bail with a surety and restrictions after the RCMP charged him on Wednesday.
Following Monday’s upload to TikTok, CBC Toronto conducted its own independent investigation of the video. Marshall vehemently opposes what he perceives as restrictions on free expression in Canada in it.
“I get them taken down all the time— I make videos — or all my comments, that are just simple comments,” Marsh says in the TikTok. “It’s just getting ridiculous, Marshall said.”
According to the CBC more and more people are threatening politicians. The commissioner of the RCMP has hinted that further measures may be necessary to ensure their safety.
In the TikTok video, Marshall explains in great detail how he would brutally assassinate Trudeau and Freeland “if it was up to him.”
Marshall attacks multiple groups throughout the roughly 11-minute TikTok video, including the media, Muslims, migrants, and the police who defend the government.
Among Marshall’s bail terms are the following: he must not communicate with Trudeau or Freeland; he must not use the internet to make social media posts or comments; he must not own any weapons; and he must not apply for a firearms permit.
During the bail hearing, the prosecution provided all of the evidence that is often not published.
Nate Jackson, Marshall’s attorney, stressed his client’s liberties and privileges as a Canadian in an email message.
“He has the right to freedom of speech, the right to reasonable bail and the right to a fair trial,” he said. “Having secured his release from custody, we will continue to defend Mr. Marshall’s Charter rights as his case proceeds.”
Neither Freeland’s nor the prime minister’s office would comment on the allegations, according to the CBC.
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Canada’s Unemployment Rate Hits its Highest Point Since 2017
As the job market remains dismal, the national unemployment rate in Canada has risen to its highest point since 2017. This has led some analysts to question whether the Bank of Canada should be reducing interest rates more quickly.
In spite of a net gain of 22,000 jobs, Statistics Canada reported on Friday that the unemployment rate increased to 6.6% from 6.4% the previous month. The rise was due to an uptick in part-time employment and a fall in full-time employment.
Outside of the pandemic years, the national unemployment rate has reached its highest position since May 2017, according to StatCan.
Rapid population expansion in Canada has increased the overall labour pool, but the country’s unemployment rate has persisted in rising.
The summer job market was especially tough for students, according to StatCan. Not including the pandemic, the unemployment rate among students going back to school in the autumn was 16.7 percent, which is the highest level since 2012.
Two days after the Bank of Canada dropped interest rates for the third time in a row, reducing borrowing costs to alleviate economic pressure, the most recent reading of the Canadian job market follows suit.
According to TD Bank economist Leslie Preston, who wrote a note on Friday, the central bank is “giving the OK” to keep dropping rates due to the bad August jobs report. Preston predicts two more quarter-point decreases at the remaining decisions this year.
According to CIBC senior economist Andrew Grantham, there are indications that the labour market is quickly contracting more than initially thought, since the unemployment rate is nearly two percentage points greater than the record low of 4.9% in June 2022.
“Due to this, we believe the Bank should be contemplating a quicker rate of reductions in order to bring interest rates to less restrictive levels,” he informed clients in a letter on Friday morning.
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US Job Growth Falls Short of Expectations: Economy Struggles Under High Interest Rates
Last month, job growth in the United States was weaker than predicted, prompting concerns that the world’s largest economy is beginning to struggle under the weight of increased interest rates.
The Labour Department said that employers added 142,000 jobs in August, which was less than the nearly 160,000 economists predicted. It also stated that job gains over the preceding two months were weaker than expected.
However, the jobless rate went down to 4.2%, down from 4.3% in July.
The report is one of the most important indicators of the US economy and arrives at a vital time, as voters consider presidential candidates for the November election and the US central bank contemplates its first interest rate decrease in four years.
Analysts said the latest statistics kept the Federal Reserve on pace for a rate drop at its meeting this month, but did little to answer worries about the trajectory of the US economy or how much of a cut it should make.
“There has rarely been such a make-or-break number; unfortunately, today’s jobs report does not completely resolve the recession debate,” said Seema Shah, chief global strategist at Principal Asset Management.
Soaring prices in 2022 caused the Federal Reserve to hike its key lending rate to 5.3%, a nearly 20-year high.
Faced with increased borrowing costs for homes, vehicles, and other debt, the economy has slowed, helping to alleviate pressures that were boosting inflation but exacerbating market concerns.
As inflation has fallen to 2.9% in July, the Fed is under pressure to decrease interest rates to prevent additional economic deceleration.
Although job increases in August fell short of expectations, they were greater than in July, when a slowdown aroused anxieties and triggered several days of stock market volatility.
Last month, construction and health-care firms hired the most, while manufacturing and retailers laid off employees.
Ms Shah stated that the data in Friday’s report was mixed, but provided enough concerning indicators that the Fed should make a larger cut.
“On balance, with inflation pressures subdued, there is no reason for the Fed not to err on the side of caution and frontload rate cuts,” she told reporters.
Others, however, felt the advances were just steady enough to warrant a 0.25 percentage point decrease, as markets had long projected – though this could signal more cuts than expected in the coming months.
Paul Ashworth, Capital Economics’ senior North America economist, predicted that the Fed’s decision will be “close run.”
“The labour market is clearly experiencing a marked slowdown,” he said, adding that the new statistics were “overall still consistent with an economy experiencing a soft landing rather than plummeting into recession”.
Concerns about the economy are a major issue in the US election.
According to polls, a majority of Americans feel the US is in a recession, despite healthy 2.5% growth last year.
Donald Trump has declared that the economy is headed for a “crash,” and his team instantly latched on the latest data to criticise Vice President Kamala Harris, publishing a press release titled “warning lights flash as Kamala’s economy continues to weaken.”
Democrats have defended their performance, claiming that the United States survived the pandemic and inflation better than many other countries.
They believe the slowdown is a sign that the economy is returning to a more sustainable rate of growth following the post-pandemic boom.
“Although hiring has slowed, the US job market continues to generate solid job gains and wage growth that is consistently beating inflation,” the White House Council of Economic Advisors stated in a blog.
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