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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: Taiwan businesses, workers assess impact of China deals AFP - 2 hours 43 minutes ago TAIPEI (AFP) - - Historic agreements on closer economic ties between Taiwan and China were welcomed Wednesday by business leaders as a great opportunity for growth, but ordinary workers said they feared for their future. With tens of thousands of jobs having already shifted across the Taiwan Strait to the massive and cheap Chinese labour pool, workers' groups said they were concerned about more losses as businesses capitalise on closer ties. The two formerly bitter rivals Tuesday signed agreements to broaden economic cooperation, and the business sector is especially optimistic about direct air and shipping links seen helping slash operating costs. "It has been a long-awaited moment," said Tsai Lien-sheng, secretary general of the Chinese National Federation of Industries, which represents 95,000 major companies on the island. "We expect about 50 billion Taiwan dollars (1.52 billion US) in costs will be cut a year for the business sector through direct air and shipping services," he said. Taiwan and China have agreed to launch direct air cargo services and add passenger flights after launching weekend charter flights in early July. Taiwan will open 11 ports and China 63 ports to cater for the direct shipping services. Ships from either side will not have to display national flags. "The agreements not only provide great business opportunities but also symbolise a warming cross-strait relationship -- cross-strait tensions are the last thing Taiwanese businessmen want," Tsai said. Rock Hsu, chairman of electronic giant Kinpo group, was quoted by local media saying Taiwan and China can ride out the global economic meltdown by taking advantage of Taiwan's design talent and China's manufacturing capacity. Travel agents are excited about the gains to be made in the tourism industry as flights no longer need to traverse third-territory airspace, usually Hong Kong, when flying between Taiwan to China. "The lower transport costs will definitely boost the competitiveness of the local tourism industry which has to compete with neighbouring countries, in particular Japan, for mainland visitors," said Anthony Liao, general manager of Phoenix Tours. He said he expected the price of a 10-day package tour for a Chinese visitor to Taiwan to fall to 8,000 Chinese yuan (1,168 US), from the current 10,000 yuan. "The shorter flight times will allow us to offer more flexible itineraries to boost interest," Liao said, referring to the 40 percent reduction in flight time between Shanghai and Taipei, the most popular route, to around 90 minutes. Business optimism contrasts sharply with the fears of labour groups, who cite September's jobless rate, which hit a 37-month high of 4.27 percent, with most losses in the manufacturing sector. Tens of thousands of people joined an anti-China rally in Taipei last month protesting rising unemployment, and calling for government action to curb the loss of major local industries -- including textiles, construction materials, electronics and consumer products -- to China. Wang Hsin-jung, 48, lost his job as a car salesman three months ago as the economic slowdown fed into tighter household budgets. He said closer economic integration with China "would deal another heavy blow to Taiwan's job seekers, especially those without special training." Echoing a concern of many unskilled workers here, he added: "They could easily be replaced by much cheaper Chinese workers." Chen Yen-wei, a worker at a local textile machine manufacturer, shared Wang's fears as he stood with demonstrators outside Taipei's parliament to express his opposition to the four cross-strait deals. "I just can't imagine what will happen to me if Taiwan and China keep getting closer and a big flock of Chinese labourers come here," said the 24-year-old. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Asian stock markets rise as US elects ObamaAP - 50 minutes ago Financial crisis hangs over New Zealand electionAFP - 1 hour 9 minutes ago Europe shares set to rise after U.S. electionReuters - 1 hour 37 minutes ago Oil slides below $69 on weaker demand worriesAP - 1 hour 54 minutes ago Related Articles: Business JGBs fall on jump in stocks, weak 10-year auctionReuters - 46 minutes ago Israel's MA Industries Q3 net profit risesReuters - 48 minutes ago Japan's Aso: Must support dollar as key currencyReuters - 49 minutes ago Asian stock markets rise as US elects ObamaAP - 50 minutes ago India cbank sets underwriting commitment for auctionsReuters - 50 minutes ago Enlarge Photo Taiwan businesses, workers assess impact of China deals Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Obama wins US election, to become first black president Americans flock to vote in historic elections Foods to prevent disease? 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