Motivation for billionaire Foxconn to run for Taiwan’s leader

Motivation for billionaire Foxconn to run for Taiwan's leader 2

Billionaire Quach Dai Minh, 72 years old, founder of Foxconn Group, announced on August 28 that he would run for Taiwan’s leadership position as an independent candidate.

`I definitely will not allow Taiwan to become the next Ukraine,` the Foxconn billionaire emphasized.

Mr. Quach Dai Minh spoke at a press conference during his visit to the US in 2019. Photo: Reuters

China views Taiwan as a territory awaiting reunification and does not rule out the possibility of using force.

Beijing considers Tsai Ing-wen a separatist, warning that efforts for `Taiwan independence` will lead to serious consequences.

According to Mr. Quach, this policy orientation of Ms. Tsai and the DPP `made all kinds of mistakes`.

Billionaire Guo Taiming’s Foxconn company is the main supplier of components for Apple and has many factories in China that produce iPhones, employing more than a million workers.

Mr. Guo has long had the ambition to become Taiwan’s leader and pursued the candidacy of the Kuomintang this year.

This forced Mr. Quach to run as an independent candidate.

The Election Commission will then review the authenticity of the signatures and announce the results by November 14.

The other candidates for the election scheduled for January 13, 2024 are former Taipei City mayor Kha Wenzhe of the Taiwan People’s Party (TPP) and current Taiwanese deputy leader Lai Thanh Duc of

Currently, Mr. Lai is the leader in terms of support in public opinion polls.

`He always thought he could be the one to unite the opposition,` Professor Wang commented, but noted that this is actually unlikely.

According to Tieu Xuc Sam, director of the Ma Ying-jeou Foundation in Taipei, former deputy secretary general of Taiwan’s leadership office, who regularly comments on important events on the island, deciding to run for office is the billionaire’s way.

Fears that a conflict could break out in the Taiwan Strait are the biggest concern for people on the island.

At a recent meeting at Taiwan’s Donghai University, Mr. Guo declared that China would not attack the island if he became leader.

`I think part of the reason that motivated billionaire Quach to run for office was because of ego,` commented Kharis Templeman, a researcher specializing in Taiwan at the Hoover Institution at Stanford University, USA.

According to Templeman, Mr. Quach seems to think that owning a large business network in mainland China and a prominent position in the business community here will be an advantage to help him run the Taiwanese government better.

But experts say that personal and business relationships in China may also be a barrier to Mr. Quach’s political ambitions, in the context of cross-strait tensions that show no signs of cooling down.

According to Yen Chen-shen, a researcher at Taiwan University of Politics, with Guo’s background and Beijing-friendly views, his candidacy could make it more difficult for the opposition to defeat the DPP candidate.

`Having a long-term business base in mainland China is really a political burden for Mr. Guo. I think the DPP is hoping for the prospect of him becoming a candidate to happen and they will have an easy target.`

Critics of billionaire Guo also say that his large business interests in China make him susceptible to pressure from Beijing.

In a statement, Foxconn said Guo no longer carried out the company’s day-to-day management when he handed over leadership of the group in 2019 to his successor Liu Yangwei, adding that `Foxconn will

On August 28, billionaire Quach still steadfastly presented himself as someone who could mend the relationship with China without being influenced by Beijing.

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