Evergreen’s Chang joins nuclear debate

The wisdom of building nuclear plants on an earthquake-prone island has always been a contentious issue in Taiwan and the Fukushima nuclear crisis has already reignited a heated debate on whether the government should go ahead with a fourth plant.

Up to now, those fighting against nuclear power have largely been limited to environmentalists and opposition politicians. On Wednesday, however, they received support from an unexpected quarter: Chang Yung-fa, chairman and founder of the Evergreen Group and one of Taiwan’s richest and most-respected businessmen.

The 84-year-old Chang, who now rarely appears in public, is the first prominent businessmen in Taiwan to throw his weight behind the anti-nuclear lobby.

“Taiwan is in an earthquake zone, so the government should take extra care when building infrastructure, particularly with nuclear plants,” Chang said. “It’s not unreasonable that some of the public are opposed to building new nuclear plants”.

Instead of relying on nuclear energy, Chang said, Taiwan should greatly step up its use of other clean energy sources such as building hydro or natural gas power plants and adding wind farms to its off-shore islands.

He said Evergreen – whose main businesses are shipping and airlines but which also runs a gamut of other businesses including security and hotels – once invested in and built a natural gas power plant in northern Taiwan, as part of a government drive in the 1990s for public-private-partnership investments in infrastructure.

“If I, Chang Yung-fa, could build a [clean-energy] electricity plant, why can’t the Taiwan government do more [to use alternate energy sources]?” he asked.

But others point out that for Taiwan, as with many other countries, it would be next to impossible to become completely nuclear-free. Chen Chao-yi, an official at Taiwan’s ministry of economic affairs, told legislators this week that if Taiwan’s three existing nuclear plants were shut down, there would be such a shortage of electricity that between a quarter to a third of Taiwan’s industries would face blackouts.

President Ma Ying-jeou, seeking to reassure the populace about nuclear safety in Taiwan, on Wednesday said that besides conducting full safety reviews of Taiwan’s nuclear plants, his government would also seek to work with China to ensure the safety of nuclear plants across the Taiwan Strait in mainland China.

If a nuclear crisis happens in China, Ma said, “Taiwan may be affected, but by then it would not just be a cross-Strait, issue, but a regional issue.”

Further Reading:
Taiwan file, beyondbrics
Nuclear power file, beyondbrics

Global equities macromap

Number of the day

12.4% Fall in Mail.Ru shares on Monday, on the back of its Facebook stake.

beyondbrics

The emerging markets hub

About this blog Headlines email Blog guide
News and comment from more than 40 emerging economies, headed by Brazil, Russia, India and China.



'Like' our beyondbrics Facebook page, where we showcase a top story of the day
Sign up for our news headlines and markets snaphot service. We have two emails per day - London and New York headlines (sent at approx 6am and 12pm GMT).

To comment, please register for free with FT.com and read our policy on submitting comments.

There is an overall beyondbrics RSS feed, as well as feeds for all our countries, tags and authors. Learn more in our full RSS guide.

All posts are published in UK time.

Get in touch with us - your comments, advice and even complaints. Find out how to contact the team.

See the full list of FT blogs.

BB shortcuts

Regulars Series Archive
Chart of the week
Behind the numbers

Fund flows
Tracking money in and out of EM bonds
12 for 2012
Guest posts on key trends for the year ahead

Brics at 10
A decade of growth
The Diaspora Digest
EM diasporas, seen through their community media (Oct-Nov 2011)
Sick brics (Sep 2011)
Brics and mortar (Aug 2011)
Beyondbrics on the beach (Jul-Aug 2011)
China bubble? (June 2011)
Post-election Nigeria (June 2011)
Hey bric spender (Aug 2010)

Emerging markets data

Archive

« Feb Apr »March 2011
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031  

What we are writing about

Apple banking bonds Brazil economy Brics CEE China economy consumer corruption currencies currency war debt energy EPFR equities eurozone crisis food & drink guest post Hugo Chávez IMF India economy inflation interest rates internet investment IPOs M&A manufacturing mining monetary policy oil & gas PMI politics Repsol retail Russian elections Russian politics tax technology telecoms trade vehicles video World Bank YPF