Taiwan election swings wildly against China

Via Reuters:

Terry Gou, founder of Apple supplier Foxconn (2317.TW), in a surprise move on Monday said he will not contest in Taiwan’s 2020 presidential election.

Gou, Taiwan’s richest person with a net worth of $7.6 billion according to Forbes, said in a statement late on Monday he would not join the already competitive race, after losing the presidential nomination from the opposition, China-friendly Kuomintang party (KMT) in mid-July.

“I have decided not to join the petition to run for president in 2020,” Gou said in a statement, apologizing to supporters who had urged him to run for the presidency.

Hmm, I wonder why? It’s been high hopes to Hong Kong crash this year for the KMT:

With no end in sight, Gou doesn’t back losers.

David Llewellyn-Smith

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.

He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.

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