The economy flashed a yellow-red light in November, just one step away from the red light, which signifies overheating. But the improvement in economic performance was mainly because of last year's low baseline, when the economy began severely contracting, making exports and manufacturing sales look relatively strong. In fact, we know that the world economy has gradually come out of the shadow of a meltdown after governments in the world injected funds into capital markets to create high liquidity. And those fund inflows, rather than increases in production, sales, or services, are primarily responsible for the slow economic rebound and explains why the recovery has failed to create new jobs or stimulate consumption. The so-called jobless recovery has only benefited specific sectors and widened the gap between rich and poor. Taiwan's unemployment is actually more serious than on the surface, even though the official unemployment rate in November was 5.8 percent, a drop from the record high of over 6 percent. We believe the root behind the present economic decline in Taiwan is the government's China-leaning policy. Instead of focusing on improving the local investment environment to retain businesses, the Ma administration has relaxed even reasonable restrictions on investment in China to induce the exodus of industry, technology and people, which we believe will only drive up jobless numbers. 