Honduras Foreign Minister Eduardo Enrique Reina says interest rates were very high and "choking" Honduras, and the proposal was "related to finding a debt financing mechanism for [Taiwan] to buy [Honduran] debt."
Despite AUKUS boosting the US-led containment of China, Washington may still struggle to gain full support from its allies as economic woes bubble to the surface.
China views Taiwan as its own territory and has never renounced the option of force to take the island back while President Joe Biden said the US would defend Taiwan in the event of Chinese attack.
Honduras Foreign Minister Eduardo Reina spells out reasons why the Central American country is seeking to establish diplomatic relations with China, which implies severing eight-decade ties with Taiwan.
Xiomara Castro, leader of the Central American country, says she has instructed her foreign minister to open diplomatic ties with Beijing. Meanwhile, Taiwan urges Honduras not to fall into "China's trap."
Taiwanese Defence Minister Chiu Kuo-cheng says "other side is preparing for the use of force if necessary in the future", but Beijing dismisses warning saying Taiwan is part of China.
China's defence spending announced to be around $225 billion, still pales in comparison with the United States, which has allotted over $800 billion for its military this year.
Government should implement party's policy for "resolving the Taiwan question" and "take resolute steps to oppose Taiwan independence and promote reunification," Premier Li Keqiang tells delegates at Beijing's enormous Great Hall of the People.
The United States is Taiwan’s main supplier of military equipment, and China has objected to past sales with sanctions and other actions.
China, which considers the island of Taiwan and the strait its sovereign territory, opposes the US military presence in the region.
Chinese defence spokesperson said Beijing “resolutely opposes any official interaction and military collaboration” between the US and Taiwan.
The United States has no formal diplomatic ties with Chinese-claimed Taiwan but is the island's most important international backer and arms supplier.
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