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MND censured over munitions sales

The Ministry of National Defense (MND) was reprimanded by the Control Yuan yesterday amid an investigation into whether expired munitions were illegally sold to militant groups in the Middle East and Africa.

Speculation about such sales emerged in January after a report by the Chinese-language Next Magazine that there was evidence more than 1,800 tonnes of ammunition, which had supposedly been destroyed, was re-sold by a government contractor to Romanian officials last year.

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US committed to Taiwan, US official says

US Deputy Secretary of State James Steinberg told a major conference on US-China relations that Washington retains a “very strong commitment” to Taiwan.

While acknowledging that US ties with Beijing were improving, he said: “There is a very strong commitment and appreciation for the tremendous achievements that the people of Taiwan have accomplished both in the economic and especially in the political sphere.”

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Newsflash

Political leaders, central bankers and financiers at the World Economic Forum have attacked China’s monetary and trade policy and questioned its ability to tackle an overheating economy.

Top Chinese officials face an increasingly difficult task saying that Beijing is acting in the interest of the world economy by keeping its yuan currency weak against the dollar and maintaining a huge trade surplus — US$196.1 billion last year.