OPINION: High-income and high-tech Taiwan would gain nothing from being merged into China. And Beijing would not hold on to Taiwan’s dynamism if it did seize the island.
After that move went out the door, so too did the credibility of a two-systems model for a peaceful reunification of China and Taiwan.
If China grabbed Taiwan using the force of a gun, as opposed to taking Mongolia, concern about its links with a strategic competitor would be one driving motivation. It may also perceive that beneficial consequences for itself would flow from disrupting the US-Taiwan relationship, allowing it When China joined the World Trade Organisation at the end of 2001, its total debt-to-GDP ratio was about 150 per cent. Taiwan’s was at the same level. Since 2008, China’s borrowing accelerated sharply, rising every year. By last year, its debt reached 287 per cent of GDP, eclipsing that of the far richer US at 282 per cent. Taiwan managed to hold its total debt to about 160 per cent of GDP.China has been buying economic growth through rising indebtedness.
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