According to reports, Beijing’s attack on Taiwan could have “far-reaching economic consequences.”

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Last Updated on August 7, 2022 by Bitfinsider

According to Reuters, California Representative Nancy Pelosi is scheduled to visit Taiwan on August 2, 2022. CNN also confirmed that Pelosi would visit Taiwan, despite the risk of provoking China. While the country is self-governed, Beijing has always considered Taiwan to be part of Chinese territory. Taiwanese President Tsai Ing-wen and the Democratic Progressive Party, on the other hand, support Taiwan’s independent government, which has been in place since 1949.

Tensions have recently risen between China and the island separated from continental Asia by the Taiwan Strait. Xi Jinping of China classifies Taiwan in the same way that China classifies Hong Kong, using the “one country, two systems” formula. Tsai Ing-wen, the Democratic Progressive Party, and the Kuomintang (KMT) all oppose the People’s Republic of China’s (PRC) ‘One China’ rule. According to the Financial Times (FT), Pelosi is scheduled to meet with Taiwan’s president on Wednesday.

Pelosi’s visit has sparked heated debate about China’s use of military force in the Taiwan Strait. According to ABC, the White House has warned China against “military provocations” against Taiwan during the visit. John Kirby, the strategic coordinator for the United States National Security Council, told the press that “[America] and countries around the world believe escalation serves no one.”

“China appears to be positioning itself to potentially take further steps in the coming days and possibly over longer time horizons,” said Kirby. Furthermore, Kirby stated that “Beijing’s actions may have unintended consequences that serve only to heighten tensions.”


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Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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