{"id":1501492,"date":"2022-06-02T15:14:50","date_gmt":"2022-06-02T19:14:50","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1501492"},"modified":"2022-06-02T15:14:55","modified_gmt":"2022-06-02T19:14:55","slug":"china-lashes-out-as-u-s-and-taiwan-forge-trade-agreement","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-lashes-out-as-u-s-and-taiwan-forge-trade-agreement\/","title":{"rendered":"China Lashes Out As U.S. And Taiwan Forge Trade Agreement"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchina-lashes-out-as-u-s-and-taiwan-forge-trade-agreement%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1501492&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The Biden administration announced several initiatives on Wednesday intended to bolster economic relations with Taiwan.<\/p>\n<p>The Chinese Communist Party has long held that Taiwan, which is democratically governed, belongs to the mainland. The White House\u2019s move to strengthen ties with Taipei occurs as China heightens threats of military aggression against the island.<\/p>\n<p>The new U.S.-Taiwan Initiative on 21st-Century Trade includes plans to increase agricultural cooperation, embark on climate action, coordinate on anti-corruption laws, and fulfill other arrangements to \u201cpromote our shared values\u201d and \u201caddress our shared challenges and opportunities,\u201d according to a press release from the <a href=\"https:\/\/ustr.gov\/about-us\/policy-offices\/press-office\/press-releases\/2022\/june\/united-states-and-taiwan-announce-launch-us-taiwan-initiative-21st-century-trade\">Office of the U.S. Trade Representative<\/a>.<\/p>\n<p>The arrangement also \u201cserves as a bulwark against China,\u201d Cato Institute research fellow Clark Packard told The Daily Wire.<\/p>\n<p>Beijing, however, made clear that it opposes the new trade initiative. The People\u2019s Liberation Army <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/chinese-military-says-it-conducted-readiness-patrol-around-island-taiwan-2022-06-01\/\">announced<\/a> that it sent a \u201creadiness patrol\u201d around Taiwanese sea and airspace this week as a response to the \u201ccollusion\u201d between Taiwan and the United States. In February of this year \u2014 as Russia launched an invasion of Ukraine \u2014 China <a href=\"https:\/\/www.dailywire.com\/news\/taiwan-scrambles-air-force-after-chinese-aircraft-spotted-nearby\">sent aircraft<\/a> into Taiwan\u2019s airspace following a similar incursion one month earlier.<\/p>\n<p>\u201cThe United States should prudently handle trade and economic ties with Taiwan to avoid sending a wrong message to Taiwan separatists,\u201d Chinese Commerce Ministry spokesman Gao Feng <a href=\"https:\/\/www.reuters.com\/world\/china-says-opposes-us-taiwan-trade-initiative-2022-06-02\/\">asserted<\/a> on Thursday. Last summer, a state-controlled Chinese magazine published a three-stage <a href=\"https:\/\/www.dailywire.com\/news\/chinese-state-media-publishes-three-stage-battle-plan-for-taiwan-invasion-as-president-xi-calls-for-complete-reunification\">battle plan<\/a> depicting the potential invasion of Taiwan.<\/p>\n<p>Hudson Institute senior fellow Thomas Duesterberg doubts that the trade deal will succeed in combating Chinese aggression. \u201cThere are much more important factors that will affect whatever China decides to do,\u201d he told The Daily Wire in reference to whether the American military would intervene if China invades. \u201cAnd that\u2019s different from deeper economic integration.\u201d<\/p>\n<p>\u201cIf China decides it wants to take Taiwan,\u201d Packard added, \u201cit\u2019s not going to be deterred by the fact that the U.S. has heightened trade and investment with Taiwan.\u201d<\/p>\n<p>Beyond foreign policy, the United States has clear economic motives for pursuing the trade agreement. Taiwanese manufacturers accounted for more than 60% of international semiconductor outsourcing revenue as of 2020, according to <a href=\"https:\/\/www.cnbc.com\/2021\/03\/16\/2-charts-show-how-much-the-world-depends-on-taiwan-for-semiconductors.html\">CNBC<\/a>.<\/p>\n<p>\u201cThe U.S. buys a ton of those products, and obviously we\u2019re facing a semiconductor shortage,\u201d Packard said.<\/p>\n<p>Indeed, the low availability of semiconductors \u2014 a key component of computer chips \u2014 has limited automobile output in the United States. Ford <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/ford-suspend-or-cut-output-8-its-factories-due-chip-shortage-2022-02-05\/\">suspended and cut<\/a> production at eight of its North American factories in February due to chip supply issues, while General Motors <a href=\"https:\/\/thehill.com\/policy\/transportation\/599760-indiana-gm-plant-pausing-production-amid-computer-chip-shortage\/\">paused<\/a> production at an Indiana pickup truck factory the following month.<\/p>\n<p>Tesla CEO Elon Musk <a href=\"https:\/\/www.dailywire.com\/news\/never-seen-anything-like-it-elon-musk-reacts-to-global-supply-chain-issues\">commented<\/a> last year that he has \u201cnever seen anything like\u201d the semiconductor shortage. \u201cOur biggest challenge is supply chain, especially microcontroller chips.\u201d<\/p>\n<p>China is experiencing its own economic woes. The nation\u2019s expansion in Gross Domestic Product (GDP) had averaged nearly 10% per year since free market reforms in 1978 \u2014 but low labor force growth, slowing productivity, and lackluster returns to investment are dampening the Chinese economy, according to the <a href=\"https:\/\/www.worldbank.org\/en\/country\/china\/overview#1\">World Bank<\/a>. After real GDP increased by 8.1% in 2021, economic expansion is forecasted to fall to 5.0% in 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration announced several initiatives on Wednesday intended to bolster economic relations with Taiwan. The Chinese Communist Party has long held that Taiwan, which is democratically governed, belongs to the mainland. The White House\u2019s move to strengthen ties with Taipei occurs as China heightens threats of military aggression against the island. The new U.S.-Taiwan &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1501519,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1501492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1501492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1501492"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1501492\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1501519"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1501492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1501492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1501492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}