Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Rubio says Syria could be weeks away from 'full-scale civil war'
Sweden seeks EU sanctions targeting "individual Israeli ministers": Minister to AFP
UK pauses trade deal talks with "Israel", summons ambassador over new Gaza offensive
Al Mayadeen's correspondent: 67 martyrs in Israeli strikes on Gaza since morning.
Al Mayadeen's correspondent in West Bank: Occupation executes large-scale operation in Al-Jamasin, al-Eyada neighborhoods in Old Askar Camp, East of Nablus.
Al Mayadeen's correspondent in South Lebanon: One person killed in strike that targeted a motorcycle in Al-Mansouri.
Al Mayadeen's correspondent in South Lebanon: Israeli drone strikes motorcycle in town of Al-Mansouri.
Yemeni Armed Forces: The blockade on the Port of Haifa comes following the successful imposition of the siege on the Port of Umm al-Rashrash, which has since ceased operations
Yemeni Armed Forces: The Port of Haifa is now officially part of our target bank
Yemeni Armed Forces calls on companies with ships currently in the Port of Haifa or en route to it to take into account the contents of the statement and any forthcoming announcements

US warns Europe Taiwan conflict could bring in annual economic losses

  • By Al Mayadeen English
  • Source: Agencies
  • 11 Nov 2022 18:29
  • 1 Shares
3 Min Read

The Financial Times reports on Friday that a huge toll on global economy and its annual economic losses could reach $2.5 trillion in the event of a possible conflict over Taiwan.

  • x
  • Visitors review new computer products during the Computex Taipei exhibition at the world trade center in Taipei, Taiwan, Tuesday, May 30, 2017 (AP Photo/Chiang Ying-ying, File)
    Visitors review new computer products during the Computex Taipei exhibition at the world trade center in Taipei, Taiwan, Tuesday, May 30, 2017 (AP Photo/Chiang Ying-Ying, File)

The United States has warned European nations that the conflict over Taiwan would take a huge toll on the global economy and its annual economic losses could reach $2.5 trillion, The Financial Times reported on Friday, citing sources familiar with the matter.

The US State Department has shared with the European Commission and European government officials research commissioned from the research firm Rhodium Group. Thus, it warned them of the "significant implications" the conflict over Taiwan could lead to, according to sources cited by the newspaper.

At the same time, the US attempts to find a way to use sanctions against China in the event of any military action against Taiwan, the report said. The US and the EU had begun talks on preparation for possible conflict over Taiwan, two officials told Financial Times.

However, some officials from the US and Europe believe that global economic damage from the Taiwan conflict is "necessary to rally international support for deterring China," the report said.

In September, Chinese President Xi Jinping allegedly told his military that he wants to take control of Taiwan by force by 2027, according to David Cohen, the deputy director of the US Central Intelligence Agency.

In response, the Chinese Embassy in Washington said in a statement that it expresses strong dissatisfaction and opposition to President Joe Biden's continued statements that the United States would defend Taiwan from Chinese forces.

Related News

Gulf investments quietly boosted Elon Musk and family fortunes

At least 50 migrants deported to El Salvador prison entered US legally

Biden said during an interview with CBS News that US forces would defend Taiwan if China carried out an attack against the island.

Read: War between China, Taiwan unlikely, but US could change things: Expert

The situation around Taiwan escalated following US House Speaker Nancy Pelosi's visit to Taipei in August. Taiwan has been governed independently since breaking away from mainland China in 1949. China considers Taiwan part of its territory and opposes any direct official foreign contacts with the island.

Pelosi's visit led China to announce ending cooperation with the United States on a number of issues such as climate change, anti-drug efforts, and military talks.

Although the US officially claims to support the One China Policy, it has long maintained unofficial relations with Taipei, including the supply of arms to the island.

In response to another visit to Taiwan, China announced new military maneuvers surrounding Taiwan, as a team of US politicians met with the island's leader only weeks after Pelosi's provocative trip. 

The secret two-day visit came as Beijing launched warships, missiles, and fighter jets into the waters and skies surrounding Taiwan.

  • United States
  • Taiwan
  • Europe
  • European Commission
  • European Union

Most Read

Gaza and the logic of necropolitics: Sovereignty measured by killing

Gaza and the logic of necropolitics: Sovereignty measured by killing

  • Politics
  • 15 May 2025
Two F-35 jets arrive at it's new operational base Wednesday, Sept. 2, 2015, at Hill Air Force Base, in northern Utah. (AP)

F-35 near-misses over Yemen signal new risks for 'Israel': Forbes

  • Politics
  • 14 May 2025
Abu Obaida

Abu Obeida posts shortly after Israeli reports about his assassination

  • Palestine
  • 15 May 2025
YAF say struck 'Israel's' Ben-Gurion Airport with missiles, drones

YAF say struck 'Israel's' Ben Gurion Airport with missiles, drones

  • MENA
  • 18 May 2025

Coverage

All
Gaza prevails against genocide

Read Next

All
A 3D render of China's planned 'drone mothership' Credit: X/@XH_Lee23
US & Canada

China unveils drone mothership capable of swarm attacks

Half of UK youth would give up the internet: Survey
Technology

Half of UK youth would give up the internet: Survey

Secretary of State Marco Rubio, speaks to the media during a meeting with President of the Conference of Italian Bishops, Cardinal Matteo Zuppi at the U.S. Embassy to the Holy See in Rome, Saturday, May 17, 2025. (AP Photo/Gregorio Borgia)
Politics

Trump focused on peace while Europe pushes for war: Rubio

Hungarian Prime Minister Viktor Orban, left, and Israeli Prime Minister Benjamin Netanyahu shake hands after a press statement at the Carmelite Monastery in the Buda Castle in Budapest, Hungary, April 3, 2025 (AP/Denes Erdos)
Europe

Hungary votes to begin withdrawal from International Criminal Court

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS