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Global Business News

The Economic Times

Global Business / The Economic Times

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Taiwan Strait conflict could eclipse World War Two economic impact: US

A U.S. diplomat warned that Taiwan Strait conflict would impact the global economy more than World War Two. He stated the upcoming U.S.-China summit offers a chance to prevent miscalculations. Taiwan is enhancing its defense capabilities to deter potential threats from China. The island nation rejects Beijing's sovereignty claims and increases its defense budget. China maintains reunification is an unstoppable historical trend, preferring a peaceful outcome.

9 Sep 2026 9:42 am