China is stepping up its military preparedness to overtake Taiwan, Minister of Foreign Affairs Joseph Wu (吳釗燮) said yesterday, following a spike of Chinese drills near the nation.
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Investors recoiled from risky assets yesterday and dumped shares in Asian banks and builders, fearing a Dubai debt default could reignite the financial turmoil of the credit crisis. Stocks from Tokyo to Mumbai were haunted by suspicion of lenders’ exposure to Dubai firms that built islands in the Gulf, planned cities from Pakistan to Africa and fashioned the financial hub of the world’s biggest oil exporting region. |