Biden is ‘paying lip service’ to the U.S. position on Taiwan, former Chinese army officer says

Biden is ‘paying lip service’ to the U.S. position on Taiwan, former Chinese army officer says


BEIJING — There is an increasing wariness of U.S. claims to recognize Beijing as the sole legal government of China, a retired officer of the People’s Liberation Army told CNBC on Monday.

His comments came after U.S. President Joe Biden repeatedly indicated the U.S. would defend Taiwan militarily if the island is attacked, only to have the White House deny a shift in a decades-long “one China policy.”

“We believe he is actually paying lip service to this one China policy,” said Zhou Bo, now a senior fellow at Tsinghua University’s Center for International Strategy and Security Studies.

Zhou did not specify who “we” referred to in his response to a question on CNBC’s ”Street Signs Asia” about how Beijing viewed the back-and-forth over Biden’s comments.

U.S. Vice President Joe Biden delivers remarks at the Strategic and Economic Dialogue (S&ED) at the State Department in Washington, U.S. June 23, 2015.

Yuri Gripas | Reuters

Taiwan is a democratically self-ruled island that Beijing considers part of its territory. Beijing has maintained it seeks peaceful reunification with Taiwan.

During the Shangri-La Dialogue in Singapore over the weekend, China’s Defense Minister Wei Fenghe maintained that Beijing would achieve reunification and warned those pursuing Taiwan independence would “come to no good end.”

A day earlier, U.S. Secretary of Defense Lloyd Austin accused China of “provocative, destabilizing” military activity close to Taiwan.

For more than 40 years, the U.S. “one China policy” has recognized Beijing as the sole legal government of China. Meanwhile, the U.S. maintains unofficial relations with Taiwan, with a policy of making sure the island has the resources to defend itself.

Given recent media reports about U.S. assistance to Taiwan, Zhou said, “How could we have trust in the one China policy?”

— CNBC’s Ravi Buddhavarapu contributed to this report.



Source

How much further does this Teflon market have to go? Here’s what traders say
Finance

How much further does this Teflon market have to go? Here’s what traders say

Key Points The S&P 500 crossed 7,400 for the first time on Friday, and traders on prediction markets platform Kalshi place 59% odds the index crosses 8,000 in 2026. That index crossed 7,000 for the first time in January. Source

Read More
Stocks making the biggest moves premarket: Cloudflare, Akamai Technologies, JFrog, Trade Desk & more
Finance

Stocks making the biggest moves premarket: Cloudflare, Akamai Technologies, JFrog, Trade Desk & more

Check out the companies making the biggest moves premarket: Akamai Technologies — Shares surged 27% after the cybersecurity and cloud computing company said a leading U.S.-based frontier model provider has committed to $1.8 billion over seven years for its Cloud Infrastructure Services. Akamai also reported a first-quarter adjusted earnings beat, while its revenue came in […]

Read More
Iran focus at Trump-Xi summit may delay progress on tariffs, rare earths
Finance

Iran focus at Trump-Xi summit may delay progress on tariffs, rare earths

Key Points Iran war may dominate the first U.S. presidential visit to China since 2017. U.S. business delegation may be smaller than those other countries have brought to China recently, according to a source familiar with the matter. The timing of the next meeting — Chinese President Xi Jinping’s visit to the U.S. — is […]

Read More