China holds military drills around Taiwan as U.S. delegation visits

China holds military drills around Taiwan as U.S. delegation visits


China’s military sent frigates, bombers and fighter planes to the East China Sea and the area around Taiwan on Friday, in a move the People’s Liberation Army said was intended to target the “wrong signals” sent by the United States. Seen here in a file photo, J15 fighter jets are on China’s sole operational aircraft carrier, the Liaoning, during a drill at sea on April 24, 2018.

AFP | Getty Images

China said it conducted military drills around Taiwan on Friday, as a U.S. Congressional delegation visited the island, in a move the People’s Liberation Army said was intended to target the “wrong signals” sent by the United States.

China’s military sent frigates, bombers and fighter planes to the East China Sea and the area around Taiwan on Friday, People’s Liberation Army Eastern Theater Command spokesman Shi Yilu said, according to China’s state broadcaster.

“This operation is in response to the recent frequent release of wrong signals by the United States on the Taiwan issue,” Shi said, without mentioning the visiting U.S. lawmakers.

“The U.S. bad actions and tricks are completely futile and very dangerous. Those who play with fire will burn themselves,” he said.

During a Friday meeting with Taiwan President Tsai Ing-wen, U.S. Senator Bob Menendez, chairman of the Senate Foreign Relations Committee, said the technology hub is a “country of global significance” and its security has implications for the world.

Menendez was among a bipartisan group of six U.S. lawmakers visiting in a show of support to the democratic island in the face of Chinese pressure.

Such visits, and a reference to Taiwan as a “country,” rankle in Beijing, which dismisses any suggestion that Taiwan is a country. China regards the island as one of its provinces.

The United States has no formal relations with Chinese-claimed Taiwan but is its most important international backer and arms supplier.

Menendez acknowledged that the Chinese government was “very unhappy” with the delegation’s visit but that would not dissuade the group from supporting Taiwan.

“With Taiwan producing 90% of the world’s high-end semiconductor products, it is a country of global significance, consequence and impact, and therefore it should be understood the security of Taiwan has a global impact,” Menendez told Tsai in a meeting in the presidential office broadcast live online.

Taiwan has been heartened by the U.S. support offered by the Biden administration, which has repeatedly talked of its “rock-solid” commitment to the democratically governed island.

That has added to strains in Sino-U.S. relations.

Russia’s invasion of Ukraine has also put Taipei on alert for any possible moves by Beijing to use the Ukraine crisis to make a move on the island. The government has reported no unusual Chinese activity.

Republican U.S. Senator Lindsey Graham told Tsai during the delegation’s meeting that the war in Ukraine and provocative behavior by China have united U.S. opinion in a way not seen before.

“We will stand with you. To abandon Taiwan will be to abandon democracy and freedom,” he said.

The delegation, which arrived late on Thursday from Australia for an unannounced two-day trip, will also meet Taiwan’s foreign minister, Joseph Wu, and Defence Minister Chiu Kuo-cheng.



Source

BlackRock sees shift in artificial intelligence trade. Where investors are putting their money now.
World

BlackRock sees shift in artificial intelligence trade. Where investors are putting their money now.

BlackRock is seeing a shift among Big Tech investors. Jay Jacobs, the firm’s U.S. head of equity ETFs, finds they’re going for targeted themes like artificial intelligence. “One of the biggest trades we’re seeing this year is simply people leaving the traditional tech sector and getting more granular into AI-specific ETFs, like BAI [the iShares […]

Read More
Warren Buffett Watch: Berkshire’s Japanese stock positions top  billion
World

Warren Buffett Watch: Berkshire’s Japanese stock positions top $30 billion

(This is the Warren Buffett Watch newsletter, news and analysis on all things Warren Buffett and Berkshire Hathaway. You can sign up here to receive it every Friday evening in your inbox.) Berkshire’s Japanese stock positions top $30 billion The total value of the five Japanese “trading houses” in Berkshire Hathaway’s equity portfolio has topped $30 billion […]

Read More
These stocks reporting next week have a history of posting earnings beats and rallying
World

These stocks reporting next week have a history of posting earnings beats and rallying

Investors aiming to predict which stocks will pop during earnings season may want to keep an eye on companies that have strong track records of exceeding Wall Street’s expectations. Earnings season for the third quarter starts ramping up next week. Some of the companies slated to share their top- and bottom-line results next week include […]

Read More