Nancy Pelosi, the speaker of the U.S. House of Representatives, landed in Taiwan on Tuesday despite warnings from Beijing. China’s financial constraints raise the risk of a showdown with the United States, says petesweeneypro:
Pelosi has a record of grandstanding on China; in 1991 she unrolled a banner in Beijing’s Tiananmen Square in support of democracy protesters. Now she’s become the second speaker to visit Taiwan, following Newt Gingrich in 1997, when relations were warmer, and China was weaker. Though U.S.
President Joe Biden has distanced his administration from the visit, Chinese state media isFor American and Taiwanese businesses, the question is whether Beijing will retaliate against them. Taiwan is vulnerable. Its exports to the mainland and Hong Kong topped $188 billion last year, accounting for over 40% of the total. For agriculture, the proportion is higher.
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