Taiwan sets up blue-ribbon economic committee

TAIWAN - Taiwan paved the way on 4 July for a multi-party task force to advise how to boost the island's faltering economy, a presidential aide said.

Yu Shyi-kun, secretary-general to President Chen Shui-bian, said a panel with 35 members has been set up to prepare the way for an economic advisory body, after Chen called in May for a task force to tackle the island's troubles.

Taiwan's economic growth slumped to its slowest in 26 years in the first quarter and many economists see little improve