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Two US lawmakers introduce bill on recognizing Taiwan

The Ministry of Foreign Affairs yesterday thanked two US lawmakers for proposing a resolution urging their country to scrap its “one China” policy and recognize Taiwan as an independent nation.

The concurrent resolution was introduced by US representatives Tom Tiffany and Scott Perry, both Republicans.

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US’ Biden plans supply-chain review


US President Joe Biden holds up a semiconductor before signing an executive order in the State Dining Room of the White House in Washington on Wednesday.
Photo: Bloomberg

US President Joe Biden on Wednesday ordered a review of US supply chains, seeking to end the country’s reliance on China and other adversaries for crucial goods.

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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.