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Strategies & Market Trends : China Warehouse- More Than Crockery
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To: RealMuLan who wrote (1965)12/14/2003 10:18:49 AM
From: RealMuLan  Read Replies (1) of 6370
 
China and Taiwan Get Along in One Way
James Flanigan:

The last time Beijing and Taipei had a major public spat, in 1996, the U.S. president dispatched destroyers to the Taiwan Strait and billions of dollars of nervous capital flowed out of the island nation to safe-haven deposits in Southern California.

Last week, things were very different. Chinese Premier Wen Jiabao, who was visiting Washington, and Taiwanese President Chen Shui-bian quarreled loudly at long distance. The U.S. president again stepped in, this time to warn Taiwan not to provoke China and to remind the world that U.S. policy supports the eventual, peaceful reunification of the mainland and the island.

But for all that, there was no flight of capital to banks in California. And the rhetoric quickly cooled down.

The reason: commerce. Politics aside, Beijing and Taipei seem to be getting along quite well. Investment capital continues to flow from Taiwan to China, and business dealings are growing ever more cooperative and productive, with Southern California serving as a major lubricant. (China is Los Angeles' largest trading partner in terms of imports, and Taiwan is No. 4. Taiwan also buys more L.A. exports than China.)

latimes.com
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