Bill 119 HR 910, also known as the "Taiwan International Financial Institution Act," aims to address the issue of Taiwan's exclusion from international financial institutions. The bill requires the Secretary of the Treasury to advocate for fair and equal treatment of Taiwan in these institutions.
Currently, Taiwan is not a member of organizations like the International Monetary Fund (IMF) and the World Bank due to pressure from China, which considers Taiwan to be a part of its territory. This exclusion limits Taiwan's ability to participate in global economic discussions and access financial resources.
The bill seeks to rectify this by instructing the Secretary of the Treasury to push for Taiwan's inclusion in these institutions. By advocating for Taiwan's participation, the United States can help ensure that Taiwan has a voice in international financial matters and can access the resources it needs to support its economy.
Overall, Bill 119 HR 910 aims to promote fairness and equality in the international financial system by advocating for Taiwan's inclusion in key institutions. This legislation highlights the importance of recognizing Taiwan as a valuable partner in the global economy and ensuring that it has the same opportunities as other countries.