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The Taiwan Conflict: A Flashing Warning of a Global Economic Crisis

The Taiwan Conflict: A Flashing Warning of a Global Economic Crisis

US Secretary of State Antony Blinken warned that a Chinese invasion of Taiwan could lead to a global economic crisis. “If a crisis erupts as a result of China’s unilateral action, the entire world is likely to be affected,” Blinken told Funk Media Group (Friday).

Taiwan is of key importance to the global economy, Blinken continued: “Every day, 50 percent of the world’s commercial freight passes through the Taiwan Strait. At least 70 percent of the semiconductors we need for smartphones, dishwashers, and cars are made in Taiwan.”

The top US diplomat accused Beijing of toughening foreign policy. “We have seen in recent years that the status quo, which has brought peace and stability to the Taiwan Strait for decades, is no longer acceptable to the Chinese leadership.”

Taiwanese President Tsai thanked the United States for its support during her visit to Washington. As expected, Beijing harshly criticized the trip.

06.04.2023 | 00:20 min


The US Secretary of State assured the Democratic Republic of the Island that US arms assistance will continue. “We are providing Taiwan with what it needs to defend itself against any form of aggression,” he said. At the same time, Blinken called on Beijing to settle the dispute amicably: “With regard to the relationship with China, we believe that all disputes should be resolved peacefully.”