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Taiwan Says China Is Dangling $3 Billion To Grab Ally Dominican Republic

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Taiwan Says China Is Dangling $3 Billion To Grab Ally Dominican Republic: China is offering the Dominican Republican S$3.1 billion S$4.12 billion packaging of investments and loans to getting them to sever ties with Taiwan.

Taiwan Says China Is Dangling $3 Billion To Grab Ally Dominican Republic

Taiwan Says China Is Dangling $3 Billion

A Taiwan official says on Tuesday, May 1, after the Caribbean nation switching allegiance to China in a diplomatic blow to the self-ruling island.

China says there were no economic pre-conditions.

Taiwan, claimed by China as its own, has formal relations now with only 19 countries, many of the emerging nations in Central America and the Pacific like Belize and Nauru.

China says Taiwan is simply a wayward province with no right to state-to-state ties.

China and Taiwan have tried to poach each other’s allies over the years, often dangling generous aid packages in front of developing nations, though Taipei struggles to compete with an increasingly powerful China.

Panama is ending a long-standing relationship with Taiwan last year in a significant diplomatic victory for China.

The Vatican is possibly next on the list. Holy See and China edge closer to an accord on the appointment of bishops in China.

News on the Dominican Republic switch, announcing in both Beijing and Santo Domingo, drew swift and robust condemnation from Taiwan Foreign Minister Joseph Wu.

President Danilo Medina of the Dominican Republic has ignored our long-term partnership, the wishes of the people of the Dominican Republic, and the years of development assistance providing by Taiwan, to accept false promises of investment and aid by China,” Mr Wu tells a reporter.

Taiwan is strongly condemning China’s objectionable decision to use the dollar diplomacy to converting Taiwan’s diplomat ally.

Beijing’s attempting at foreign policy have only serving to drive a wedging between the people on both sides of the Taiwan Strait, erode mutual trust and further harm the feelings of the people of Taiwan.

A Taiwan Foreign Ministry official, speaking on condition of anonymity, tells Reuters that, according to initial calculations.

China is dangling at least US$3.1 billion packages of investments, financial assistance and low-interest loans for the Dominican Republic, which shares an island with Haiti to the west.

Including US$400 million for a new freeway, US$1.6 billion for infrastructure projects and US$300 million for a new natural gas power plant.

It was a cost that Taiwan can not match, the official says.

China’s Foreign Ministry says the move was a political one with no economic pre-conditions, but that now they have to establish ties, China will proactively promote mutually beneficial cooperation in all areas.

A person who is answering the telephone at the Dominican Republic’s Beijing representative office says it did not know on the situation and declining further comment.

China has stepped up the pressure on Taiwan since the year 2016 election of Tsai Ing-wen, from the pro-independence Democratic Progressive Party, as president.

Beijing fears she will push for Taiwan’s formal independence, but Tsai says she wants to maintain the status quo.

The Dominican Republic has a diplomatic ally of the Republic of China – Taiwan’s official name – for 77 years, including when the government rules all of China before forcing to Taiwan in the year 1949 after losing a civil war to the Communists.

Taiwan’s presidential office says that despite the severe challenges, the government will not bow its head in pressure to Beijing, and vowing to do all it can to protect Taiwan’s interests.

The Taiwan official says the Dominican Republic move was not unexpecting.

We have always known things were not looking rosy here,” the official says.

Growth Potential Immense

Taiwan Says China Is Dangling $3 Billion

The Chinese government’s top diplomat, State Councillor Wang Yi, lauding the decision in line with the trending of the times and history, in comments to reporters in Beijing at a hastily arranged news conference.

This critical and correct decision by the Dominican Republic accords with the primary interests of the country and its people.

Mr Wang says. We highly appreciate this.

The Dominican Republic said it had decided after a long process of consultation, taking its needs and potential into account, according to a statement on the president’s website.

It says that without formal diplomatic ties, China was already its second-largest supplier of the imports products.

Of course, we know that now we are establishing diplomatic relations, the growth potential of our trade links is immense, presidential legal adviser Flavio Dario Espinal says.

Espinal says that the government was grateful to Taiwan.

We are deeply grateful for the cooperation we have shared for years,” he says. However, history and the socioeconomic reality force us now to change direction.

In Taipei, Mr Wu says China has to fail to follow through on its promises to former Taiwan diplomatic allies, including US$140 million in aid to the small West African country of the Sao Tome Principe late 2016.

Developing nations should become aware of the danger of falling into a debt trap when engaging with China, he says.

Neither Mr Wang nor the Dominican Republic Foreign Minister Miguel Vargas Maldonado, who stands by his side at the Beijing news conference, took questions from reporters.

Speaking in March, Mr Wang says it was in the best interests of Taiwan’s few remaining diplomatic allies to recognise an irresistible trend and ditch Taipei in favour one China ruled by Beijing.

So, these are the points to describe on Taiwan says China is dangling $3 billion to grab ally Dominican Republic.

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Akash Gola is the Chief Seo Expert and the Founder of ‘Chop News’. He has a very deep interest in all current affairs topics whatsoever. Well, he is the power of our team and he lives in Delhi. who loves to be a self dependent person.