l After two years of negotiations, cross-Strait service trade pact between China and Taiwan was signed on June 21 in Shanghai, China.
l Though the extent of market openness was markedly below original projections, a controversy erupted in Taiwan over: (1) poor government-business consultation prior to the signing, (2) lack of dialogue between political parties and also between government branches, and (3) insufficient “safety net” over the pact’s likely impact.
l The Ma administration was clearly caught off-guard, which could make the subsequent ratification process in Taiwan's Legislative Yuan (LY) problematic.
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