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UK Follows US in ‘Upgrading’ Taiwan Ties & Escalating Tensions With China, Analysts Say_我的网站

A |     The timing of the London visit by Taipei’s trade negotiator John Deng was important, says Dr. Victor Teo, political scientist specializing in international relations in the Asia-Pacific, because if China were to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) before the island, “it would mean the certain exclusion of Taiwan from this trade body in the future.”,After the reported trade talks in London on 16 June, Beijing, whose official policy envisions a peaceful unification of Taiwan with Mainland China, was quick to reiterate its stance.,“Taiwan is an inseparable part of China, it is not a country, which is universally recognized by the international community,” a Chinese diplomatic spokesperson was cited by Politico as saying.,The UK Trade Department stopped short of offering any clarifications, while confirming the meeting of its officials with Deng.,The British side was governed by “political and economic interests” when it opted to risk igniting China’s wrath, suggests Dr. Victor Teo.,The trade talks between the UK and Taiwan may also reflect a “change in UK’s policy toward Taiwan as a result of changes in its China policy,” notes Dr. Zhang Baohui, director of the Center for Asian Pacific Studies at Lingnan University in Hong Kong.,“The US led this trend by comprehensively upgrading its relations with Taipei since the Trump administration,” says Baohui, adding that Britain tended to tread with caution in its relations with Taiwan in the past. However, now the UK is “adjusting its China policy.”,The clash over Hong Kong, according to Dr. Zhang Baohui, “significantly enhanced their differences and mutual strategic mistrust.”,“For example, it sent an aircraft carrier to the South China Sea last summer, very much to the disliking of Beijing. The UK also formed a new trilateral security mechanism with Australia and the US last year while not naming China as its target. The UK's trade talk with Taiwan could be consistent with this new trend,” he said.,Beijing's reaction to any improper statement such as challenging Taiwan as an inseparable part of China can be expected, insisted Dr. Chang Ching, research fellow at the Taiwan-based Society for Strategic Studies.,However, the British government has a clear policy towards the sensitive One-China issue, the prominent military expert on the People's Liberation Army and regional security in Taiwan noted.,China Urges US to ‘Revoke Arms Sales Plan’ With Taiwan on News of $120 Million Deal for Ship Parts9 June, 20:46 GMT,“In the aspect of trade and commerce, any discussion with representatives from Taipei regarding the participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership trading arrangement does not violate the One-China principle kept by Her Majesty's government. Nonetheless, it is originated by a media report and cannot be fully verified as the British official position,” he stated.,Dr. Chang Ching advised against defining such a statement as a “policy shift” within British government diplomacy.,US Provokes China in New Row Over Taiwan17 June, 09:14 GMT,‘Trade With China’ Factor,Regarding the regional fallout from a possible row between the UK and China over Taiwan, it is too early to predict the consequences, according to Dr. Zhang Baohui.,Underscoring that unlike Sino-US relations, Britain and China are not “strategic competitors,” he clarified:,“The UK has already boosted its presence in the region by its new trilateral security pact with Australia and the United States. It has also enhanced defense cooperation with Japan, by jointly developing the next generation jet fighter. However, Britain should have less incentives, compared to the US to have a contentious relationship with China.”,Sino-British relations should not have a major impact on the region in the foreseeable future, Dr. Zhang Baohui concluded.,Any spat over Taiwan would boost tensions in UK-China relations and West-China relations, Dr. Victor Teo suggested, but underscored the “declining economic circumstances” currently being faced by many countries. Accordingly, trade with China would likely become more important, according to him.,“As most Western countries have agreed on the 'One China Principle', it is hard to see how they can persist in promoting Taiwan’s interests steadfastly at the expense of their relationship with China,” Dr. Victor Teo said.,A row between London and Beijing would not affect anything in the region at all, Dr. Chang Ching asserted, adding:,“After all, Beijing is very near and London is too remote."。    "It’s pretty clear that no one on either side of the aisle think the name-switch to 'Inflation Reduction Act' has anything to do with the idea that the legislation is designed to reduce inflation," explained Michael R. Englund, principal director and chief economist for Action Economics.,"I think US politicians are increasingly resigned to the view that neither side is able to change public opinion, so the goal is simply to push through their agendas and raise funds for elections. The title change made Manchin’s vote a smidgeon easier, and maybe that tipped the scales.",The newly signed law levies a 15% minimum tax on large corporations and offers tax credits and discounts on everything from electric cars to solar energy. It also looks to cap out-of-pocket drug costs and reduce the federal deficit by $305 billion over roughly the next decade, according to the Congressional Budget Office (CBO). However, despite its name, it does not offer an immediate curb on inflation which still stays at a 40-year high in the US.,When asked by Fox News reporter Hillary Vaughn whether the bill will immediately have an impact on galloping prices, Democratic Senator Joe Manchin responded, "Well, immediately it’s not. We've never [said] anything would happen immediately, like turn the switch on and off.",Americas‘Addicted to Spending Your Money’: US Republican Slams Democrats Over Inflation Reduction ActYesterday, 15:26 GMT,The bill was passed by the Senate on August 7 in a party-line vote using budget reconciliation, which allowed the Dems to ram the legislation through the upper chamber with a simple majority rather than needing to meet a 60-vote threshold. None of GOP lawmakers voted for the bill and remain highly skeptical about it.,"It does nothing to bring the economy out of stagnation and recession, but rather, the Inflation Reduction Act of 2022 gives us higher taxes, more spending, higher prices and an army of IRS agents,” said Senator Mike Crapo of Idaho, the top Republican on the Senate Finance Committee, as quoted by National Review.,The media outlet further cites an independent analysis performed by the University of Pennsylvania Wharton School which stated that despite its name, the bill’s impact on inflation is "expected to be statistically indistinguishable from zero.",Furthermore, GOP lawmakers have repeatedly warned that the Biden administration's spending spree may further facilitate already soaring inflation. Meanwhile, the latest $739 billion measure comes after the passage of the Democratic Party's $1.9 trillion spending bill in March 2021 and a $1.2 trillion bipartisan infrastructure spending bill in November 2021.,"Raising taxes and spending is doing the exact opposite of how to truly curb price inflation," said Tom Luongo, a financial and political commentator. "All they did was mandate a bunch of price controls (on drugs, for example) which will ultimately create shortages for things with inelastic demand, further exasperating existent cost-push inflation pressures. Price floors and price ceilings create shortages. The net effect will be higher prices. With the government now more openly subsidizing specific sectors of the economy, they will ensure an increase in demand while capping the supply.",GOP Lawmakers Blast Biden’s ‘Inflation Reduction Act’, Say It Will Make Inflation Worse7 August, 19:05 GMT,Dems Need the Law to Campaign in Midterm Elections,According to the observers, the bill's major purpose is to reinvigorate the Democratic Party's base ahead of the November midterm election and stop Joe Biden's approval rating slide. A Politico-Morning Consult poll released on Wednesday indicated that the US president's approval rating ticked up 3 percentage points after the passage of the Inflation Reduction Act. At the same time, the number of registered voters who disapproved of Biden's job performance dropped from 59% to 56%.,"[The law] will give the Democrats something to campaign on," said Luongo. "They can now point to this act and say, 'See! We care about your drug prices but pay no attention to the insane rise in price of food, rent, gas and taxes… or those 87,000 armed IRS agents now being trained to take your couch money'.",However, "the net impact of the bill is that it may modestly boost Democrat turnout in November, and it may modestly boost Democratic fundraising," projected Englund, adding that "this comes at the risk of some modest boost for Republican turnout and fundraising that negates the benefit.","I’m not sure that, overall, the legislation is impactful enough to ultimately change the likely November electoral outcome," the economist said.,Still, there is more to the Inflation Reduction Act than meets the eye, according to Luongo: the financial commentator believes that "in the long run, this bill is a poison pill.","[The law] is designed to ensure inflation returns with a vengeance while the GOP is in power so that they can campaign on that in 2024. Honestly, it’s just so tiresome," Luongo concluded.。

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