China has blocked imports of citrus and fish from Taiwan in retaliation for U.S. House Speaker Nancy Pelosi’s visit to the self-ruled island but avoided disrupting one of the world’s most important technology and manufacturing relationships
BEIJING — China blocked imports of citrus and fish from Taiwan in retaliation for a visit by Nancy Pelosi, a top American lawmaker, to the self-ruled island but has avoided disrupting one of the world’s most important technology and manufacturing relationships.
The two sides, which split in 1949 after a civil war, have no official relations but multibillion-dollar business ties, especially in the flow of Taiwanese-made processor chips needed by Chinese factories that assemble the world’s smartphones and other electronics.
They built that business while Beijing threatened for decades to enforce the ruling Communist Party’s claim to the island by attacking.
Two-way trade soared 26% last year to $328.3 billion. Taiwan, which produces half the world’s processor chips and has technology the mainland can’t match, said sales to Chinese factories rose 24.4% to $104.3 billion.
“The global economy cannot function without chips that are made in either Taiwan or China,” said Carl B. Weinberg of High-Frequency Economics in a report.
Source: https://abcnews.go.com/International/wireStory/china-blocks-taiwan-imports-avoids-chip-disruption-87858952
Related: Nancy Pelosi meets with Taiwanese president amid rising tensions with China
Source: https://www.foxnews.com/live-news/nancy-pelosi-lands-taiwan-china-tensions-high-level-visit
Related: Pelosi: US wants to ensure ‘security of Taiwan’ so they can ‘most effectively defend themselves’
Source: https://www.foxnews.com/live-news/nancy-pelosi-lands-taiwan-china-tensions-high-level-visit
By: Miss Cherry May Timbol – Independent Reporter
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