Taiwan wants to be ‘full member’ of U.S. Indo-Pacific Economic Framework -Breaking
[ad_1]
© Reuters. FILEPHOTO: John Deng is Taiwan’s Chief Trade Negotiator. He speaks to media members in Taipei on January 22, 2021. REUTERS/Ann WangTAIPEI, Reuters – On Wednesday, a senior Taiwanese official called for Taiwan to become a full member of the United States’ Indo-Pacific Economic Framework. He said Taipei is a trusted partner and a crucial component of the global supply chains.
Washington promised last month that it would increase its diplomatic and security assistance to the Indo-Pacific, in order to resist what it sees as China’s attempt to build a sphere of influence within the region and to become the world’s largest and most powerful country.
This 12-page strategy summary reiterated U.S. plans for an Indo-Pacific Economic Framework to be launched in the early 2022. The administration believes this initiative will fill at least some of the large gaps in their engagement with the region that have existed since 2017, when President Donald Trump abandoned a multilateral trade framework.
Speaking to an online event organised by the Brookings Institution, a U.S. think-tank, Taiwan’s chief trade negotiator John Deng said democratically-governed Taiwan was a dependable and stable partner both politically and economically.
He stated that Taiwan was willing to help the U.S. Indo-Pacific Economic Framework.
“I want to encourage the U.S.government, and all those in the seminar today could help us transmit this message to America, that Taiwan wishes to be part of the framework.”
Deng stated that cooperation in supply chains between Taiwan and the United States, which is a large producer of semiconductors, was vital to both countries.
China claims Taiwan is its territory and has condemned U.S. Indo-Pacific efforts, declaring Washington was creating “exclusive clubs.”
Participation by Taiwanese in the economic section will likely strain Sino-U.S. relations with Beijing, angered at any support Washington offers for the island.
Last month, a senior U.S. diplomat stated that his country had “no intention” to engage with China under its Indo-Pacific Economic Framework.
Deng claimed that China used subsidies and unfair trade practices in order to increase its economic power over the past few years. This is something Beijing consistently denies.
He said that China’s military and political ambitions “also let the world know they are a threat to world order.”
Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.
[ad_2]
