Taiwan's ruling party DPP slams Chinese military drills

Dhwani Mehta FXStreet

Taiwan's ruling party, the Democratic Progressive Party (DPP), condemned Chinese military drills, saying that they have triggered regional tensions and are illegitimate.

“China is conducting drills on busiest international waterways, aviation routes and that is an irresponsible unilateral behavior,” the ruling party said.

Meanwhile, Taiwan’s Foreign Ministry thanked G7 countries for supporting peace and stability in the Into-Pacific region.

Additional quotes

China is trying to change the status quo in the strait.

Other countries should not use Pelosi's visit as an excuse to engage in provocative behaviour.

Will raise alertness on cyber-attacks, prepared to respond to future attacks.

The country’s Cabinet Spokesman was also reported, as expressing the most serious condemnation over Chinese drills around Taiwan.

“Continuous cyber-attacks on gov units have not caused damage so far,” he added.

Separately, US Navy said that carrier USS Ronald Reagan and her strike group are underway in the Philippine Sea continuing normal and scheduled operations

“USS operation is routine patrol in support of a free and open Indo-Pacific,” the US Navy reported.

China’s state media reported that the Chinese military reportedly began drills around Taiwan island. The exercises include live firing on the waters and in the airspace.

Market reaction

The risk-on tone seems to have cooled down a bit in Thursday’s Asian trading, with the S&P 500 futures back in the red.

AUD/USD is off the highs, trading around 0.6950, still up 0.14% on the day as of writing.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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