Responding to US President Joe Biden’s comments on Taiwan, China's Foreign Ministry spokesman came out with a warning, citing "no one should underestimate the firm resolve, staunch will and strong ability of the Chinese people in defending national sovereignty and territorial integrity."
When asked during a press briefing on Monday in Tokyo whether the US would be willing to get involved militarily to defend Taiwan, Biden said “yes — it’s a commitment we made,” per Bloomberg.
Biden added, “we agree with the One-China policy, we signed onto it and all the attendant agreements made from there. But the idea that it could be taken by force, just taken by force, is just not — it’s just not appropriate. It will dislocate the entire region and be another action similar to what happened in Ukraine.”
Market reaction
AUD/USD shrugs off the renewed US-Sino spat over Taiwan, as it surges past 0.7100 amid an extended sell-off in the US dollar across its main competitors. The aussie is up 1.14% on the day.
