While the world watches the summit between president Donald Trump and Kim Jong Un unfold, another significant event will take place elsewhere in Asia. On June 12 in Taipei, Taiwan and the US will jointly mark the establishment of a new facility for the American Institute in Taiwan (AIT), the US’s de facto embassy in the country. Politicians from both nations are attending a ceremony to commemorate the US$ 250 million complex, which will open formally later this year.
The Dominican Republic and China announced on Tuesday they were establishing diplomatic relations as the Caribbean country became the latest nation to dump Taiwan, leaving it with just 19 diplomatic allies around the globe. Taipei said it was “deeply upset” at the decision, which it blamed on “dollar diplomacy”. The move deepens the island's international isolation while its giant neighbor flexes its economic and political might on the global stage.
After last week's global rout, Asian markets struggled to hold early gains with analysts warning of further volatility across trading markets.
China accepts that Taiwan signs economic cooperation agreements with other countries as long as they are not political and those countries do not interfere with the ‘one China policy’ which considers the island a province part of the nation, and not two nations as defended by Taipei.
Taiwan will continue to cooperate with Latin America as long as the relation is fair, legal and effective, said re-elected president Ma Ying Jeou who also described that links with Beijing will continue to be: “no unification, no independence and no arms”.