News

Taiwan

AP News | Equities.com |

Twenty-eight Chinese air force aircraft, including fighters and nuclear-capable bombers, entered Taiwan’s air defense identification zone (ADIZ) on Tuesday, the island’s government said, the largest reported incursion to date.

While there was no immediate comment from Beijing, the news comes after the Group of Seven leaders issued a joint statement on Sunday scolding China for a series of issues and underscored the importance of peace and stability across the Taiwan Strait, comments China condemned as “slander”.


Reuters | Equities.com |

China condemned on Thursday a joint statement by G7 foreign ministers that expressed support for Chinese-claimed Taiwan and cast Beijing as a bully, saying it was a gross interference in China’s internal affairs.

G7 foreign ministers said in a communique after a London summit that China was guilty of human rights abuses and of using “coercive economic policies”, which the G7 would use collective efforts to stop.


Reuters | Equities.com |

Taiwan electronics manufacturer Foxconn is drastically scaling back a planned $10 billion factory in Wisconsin, confirming its retreat from a project that former U.S. President Donald Trump once called “the eighth wonder of the world.”

Under a deal with the state of Wisconsin announced on Tuesday, Foxconn will reduce its planned investment to $672 million from $10 billion and cut the number of new jobs to 1,454 from 13,000.


Reuters | Equities.com |

Former U.S. Senator Chris Dodd and former Deputy Secretaries of State Richard Armitage and James Steinberg headed to Taiwan on Tuesday at President Joe Biden’s request, in what a White House official called a “personal signal” of the president’s commitment to the Chinese-claimed island and its democracy.

A senior Biden administration official told Reuters the dispatch of the “unofficial” delegation comes as the United States and Taiwan mark the 42nd anniversary of the Taiwan Relations Act, for which Biden voted when he was a U.S. senator.


Kimberly Redmond | Equities.com |

President Joe Biden spoke to his Chinese counterpart Xi Jinping Wednesday evening, his first contact with the leader of the world’s second-biggest economy since taking office in January.

During the two-hour phone call, Biden “underscored his fundamental concerns about Beijing’s coercive and unfair economic practices, crackdown in Hong Kong, human rights abuses in Xinjiang and increasingly assertive actions in the region, including toward Taiwan,” according to summary of the call released by the White House.


Kimberly Redmond | Equities.com |

Taiwan’s leading chip manufacturers promised to do their best to tackle a semiconductor shortage that is crippling the global automotive industry, according to multiple reports.

Executives from Taiwan Semiconductor Manufacturing, United Microelectronics, Powerchip Semiconductor Manufacturing and Vanguard International Semiconductor told Taiwanese officials they will prioritize auto chip production if they can further increase manufacturing capacity, Reuters reported.


Reuters | Equities.com |

Germany has asked Taiwan to persuade Taiwanese manufacturers to help ease a shortage of semiconductor chips in the auto sector which is hampering its fledgling economic recovery from the COVID-19 pandemic.

Automakers around the world are shutting assembly lines due to problems in the delivery of semiconductors, which in some cases have been exacerbated by the former Trump administration’s actions against key Chinese chip factories.


Reuters | Equities.com |

China expressed anger on Monday after U.S. President Donald Trump signed into law measures to further bolster support for Taiwan and Tibet, which had been included in a $2.3 trillion pandemic aid and spending package.

China has watched with growing alarm as the United States has stepped up its backing for Chinese-claimed Taiwan and its criticism of Beijing’s rule in remote Tibet, further straining a relationship under intense pressure over trade, human rights and other issues.