Liu Tai-ying, former Kuomintang investment chief and chief economist for the late Taiwanese president Lee Teng-hui, said the arrest of Apple Daily founder Jimmy Lai has contributed to the growing global aversion to the Chinese government.

The 73-year-old media tycoon was remanded in custody until next April over alleged collusion with foreign forces and fraud.

“Lai’s arrest will make countries around the world more wary of China and explore other non-trade methods to sanction the country, including asset freezing,” said Lau. “After all, Lai is a media mogul. His arrest has a huge impact.”

He expressed his admiration for Lai’s courage, for staying behind to uphold his belief rather than fleeing despite the worsening political climate. “He persisted in his belief. This is his principle as a media worker and the world will approve of it,” he added.

The failure of China’s policies in Hong Kong and Taiwan has instead promoted the Democratic Progressive Party in Taiwan, said the former investment chief of pro-Beijing Kuomintang. “The more aggressive China is, the more Taiwanese people resist,” he said, noting how President Tsai Ying-wen’s popularity rose after China stepped up military threats and Hong Kong pro-democracy protests began.

“Tsai Ying-wen was re-elected for a second term with a landslide victory thanks to Xi Jinping,” the financier concluded.

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