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US, China trade Taiwan warnings


The US and Chinese flags are pictured before a meeting between senior defence officials from both countries at the Pentagon in Arlington, Virginia, on Nov. 9, 2018.
Photo: Reuters

The top diplomats from China and the US have exchanged stern warnings over the flashpoint issue of Taiwan, ahead of today’s hotly awaited summit between their leaders.

The virtual meeting of US President Joe Biden and Chinese President Xi Jinping (習近平) comes against a backdrop of rising tensions — in part over Taiwan.

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‘Australia would help US defend Taiwan’


Australian Minister of Defence Peter Dutton speaks at a news conference at the HMAS Stirling Royal Australian Navy base in Perth, Australia, on Oct. 29.
Photo: EPA-EFE

It would be “inconceivable” for Australia not to join the US should Washington take action to defend Taiwan, Australian Minister of Defence Peter Dutton said yesterday.

US Secretary of State Antony Blinken on Wednesday said that the US and its allies would take unspecified “action” if China were to use force to alter the “status quo” over Taiwan.

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Newsflash

Investor Marc Faber said China’s economy will slow and possibly “crash” within a year as declines in stock and commodity prices signal the nation’s property bubble is set to burst.

The Shanghai Composite Index has failed to regain last year’s high while industrial commodities and shares of Australian resource exporters are acting “heavy,” Faber said. The opening of the World Expo in Shanghai last week is “not a particularly good omen,” he said, citing a property bust and depression that followed the 1873 World Exhibition in Vienna.