Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

Biden looks to tamp down Taiwan tension during call with Xi

by
July 28, 2022
in Investing News
0
Biden looks to tamp down Taiwan tension during call with Xi
0
SHARES
10
VIEWS
Share on FacebookShare on Twitter
REUTERS

WASHINGTON — US President Joseph R. Biden and China’s Xi Jinping may hold their fifth call as leaders as soon as today, as concerns rise over a possible visit to Chinese-claimed Taiwan by US House Speaker Nancy Pelosi.

White House officials have said the long-planned call will have a broad agenda, including discussion of Russia’s invasion of Ukraine, which China has yet to condemn.

At its core, US officials see the exchange as another chance to manage competition between the world’s two largest economies, whose ties are increasingly clouded by tensions over democratically governed Taiwan, which Mr. Xi has vowed to reunite with the mainland, by force if necessary.

Beijing has issued escalating warnings about repercussions should Ms. Pelosi visit Taiwan, a move that would be a dramatic, though not unprecedented, show of US support for the island, which says it is facing increasing Chinese military and economic threats.

Washington does not have official relations with Taiwan and follows a “one-China” policy that recognizes Beijing, not Taipei diplomatically. But it is obliged by US law to provide the island with the means to defend itself, and pressure has been mounting in Congress for more explicit support.

“This is about keeping the lines of communication open with the president of China, one of the most consequential bilateral relationships that we have, not just in that region, but around the world, because it touches so much,” White House national security spokesman John Kirby told reporters on Wednesday.

One person briefed on planning for the call said the Biden administration thinks leader-to-leader engagement is the best way to lower tensions over Taiwan.

Mr. Xi has an interest in avoiding a tense confrontation with the United States as he seeks an unprecedented third term in office at a congress of China’s ruling Communist Party, which is expected in October or November, some analysts believe.

Mr. Biden also wants to discuss climate and economic competition issues, the person briefed said, as well as the idea of placing a price cap on Russian oil to punish Moscow for its war in Ukraine, an issue Treasury Secretary Janet Yellen raised with Chinese counterparts earlier in July.

The Biden administration has been debating whether to lift some tariffs on Chinese goods as a way to ease soaring inflation, but US officials have said a decision was not expected ahead of the call.

When Mr. Biden last spoke to Mr. Xi in March, he warned of “consequences” if Beijing gave material support for Russia’s war, and the US government believes, that red line has not been crossed in the months since.

TOXIC TIESThe White House has reiterated that its “one-China” policy has not changed despite speculation over a possible trip by Ms. Pelosi, which the speaker has yet to confirm.

The last time a speaker of the US House of Representatives visited Taiwan was in 1997, and as a co-equal branch of government, the US executive has little control over congressional travel.

China has grown more powerful militarily and economically since, and some analysts worry such a visit at a time of fraught ties, could spur a crisis across the 100-mile (160-km) wide Taiwan Strait waterway separating China and Taiwan.

“The relationship is in such a toxic state. Mutual distrust is really at an all-time high. I think people don’t realize how dangerous this particular moment is,” said Bonnie Glaser, a China expert at the German Marshall Fund of the United States.

She said Mr. Biden and Mr. Xi needed to focus their call on de-escalation, including possible mechanisms to reduce the risk of mishaps.

Mr. Kirby said the administration has been in touch with Ms. Pelosi’s office to make sure she has “all the context” she needs to make decisions about her travel.

China has given few clues to specific responses it might take if Ms. Pelosi, a longtime critic of China, particularly on human rights issues, does go to Taiwan.

Martin Chorzempa, a senior research fellow at the Peterson Institute for International Economics, said playing up the Taiwan issue could serve Mr. Xi as a domestic distraction from China’s slowing economy, but “any reaction strong enough to trigger US sanctions would create massive damage to China and the world economy.” — Reuters

ShareTweetPin

Related Posts

Stocks decline on profit taking, recession fears
Investing News

Stocks decline on profit taking, recession fears

August 23, 2022
Peso climbs vs dollar as RTB offer starts
Investing News

Peso climbs vs dollar as RTB offer starts

August 23, 2022
PNR cancels bids for 3 projects after finding them ‘non-feasible’
Investing News

PNR cancels bids for 3 projects after finding them ‘non-feasible’

August 23, 2022
Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Next Post
North Korea’s Kim says nuclear deterrent is ready, slams South Korea’s Yoon

North Korea’s Kim says nuclear deterrent is ready, slams South Korea’s Yoon

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

China keeps lending benchmarks unchanged, wary of policy divergence risks

China keeps lending benchmarks unchanged, wary of policy divergence risks

June 20, 2022
What Are The Basic Steps To Gift A Bitcoin?

What Are The Basic Steps To Gift A Bitcoin?

July 17, 2022
How Filipinos are tightening their belts amid soaring prices

How Filipinos are tightening their belts amid soaring prices

June 27, 2022
Thailand rushes to rein in cannabis use a week after decriminalization

Thailand rushes to rein in cannabis use a week after decriminalization

June 19, 2022
Key UK mortgage rate passes 4% for the first time since 2013

Key UK mortgage rate passes 4% for the first time since 2013

August 23, 2022
CryptoGames Brings Crypto Gambling to All Devices

CryptoGames Brings Crypto Gambling to All Devices

August 15, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.