US Secretary of State Mike Pompeo on Saturday urged US governors to resist Chinese pressure to shun Taiwan, as he warned that Beijing was increasingly taking its diplomatic battle to the local level.
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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. |