Taiwan‘s Foxconn, the globe’s top electronics contract maker and a major Apple supplier, is in the spotlight as Chinese authorities launch tax and land use probes into several of its facilities. Interestingly, this scrutiny comes just months before Taiwan’s presidential elections, sparking concerns over what this could mean for the island nation’s political future.
Foxconn’s economic interests are in a tight spot between China and Taiwan
Foxconn, officially known as Hon Hai Precision Industry, employs over a million people in mainland China and is a significant player in the region’s economy. The investigations are concentrated in various provinces, including Guangdong and Jiangsu, according to China’s state-run Global Times. While specific details are scarce, Foxconn has pledged to “actively cooperate” with authorities.
Given Foxconn’s size and influence, as well as the timing of the investigation, many can’t help but wonder if there’s a political undertone to these actions. Terry Gou, Foxconn’s founder, had previously failed to secure a nomination from Taiwan’s opposition party, Kuomintang, in 2019. With elections on the horizon, Gou’s connections with mainland China have become a hot topic.
Foxconn has been walking a tightrope between its economic interests in mainland China and its origins in Taiwan, a self-ruled territory that Beijing claims as its own. The firm has remained diplomatically neutral so far, stating that compliance with the law is a “basic principle” for its global operations.
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(Via)
