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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By maria gbaf

    Posted on December 10, 2021

    Featured image for article about Top Stories

    BEIJING/TAIPEI (Reuters) -China and Nicaragua re-established diplomatic ties on Friday after the country broke relations with Chinese-claimed Taiwan, boosting Beijing in a part of the world long considered the United States’ backyard and increasing Taipei’s isolation.

    China has increased military and political pressure on Taiwan to accept its sovereignty claims, drawing anger from the democratically ruled island, which has repeatedly said it would not be bullied and has the right to international participation.

    China’s Foreign Ministry, announcing the decision after meetings with Nicaragua’s finance minister and two of President Daniel Ortega’s sons in the northern Chinese city of Tianjin, said the country had made the right decision.

    “This is the correct choice that conforms to the general trend and people’s aspirations,” it said.

    The severing of ties was lambasted by Taiwan, which now only has formal relations with 14 countries, mostly in Latin America and the Caribbean.

    Taiwan’s foreign ministry expressed “pain and regret”, saying that Ortega had disregarded the friendship between the peoples of Taiwan and Nicaragua. But Taipei was also defiant.

    “As a member of the international community, Taiwan has the right to exchange and develop diplomatic relations with other countries,” the ministry said.

    Taiwan Premier Su Tseng-chang said China was doing all it could to isolate Taiwan, but said it would not succeed.

    “We also see that many countries with the same values of democracy and freedom are paying more and more attention to Taiwan and supporting Taiwan,” he told reporters.

    The break with Taiwan is a blow to the United States.

    It follows months of worsening ties between Ortega and Washington, and came on the day the U.S. State Department said it had applied sanctions to Nestor Moncada Lau, a national security adviser to Ortega, alleging he operates an import and customs fraud scheme to enrich members of Ortega’s government.

    China says Taiwan is one of its provinces with no right to the trappings of a state, and has stepped up efforts to win away Taiwan’s remaining allies, especially in Central America and the Caribbean, with El Salvador and the Dominican Republic going over to Beijing in 2018, and Panama the year before.

    (Reporting by Yew Lun Tian, and Ben Blanchard, Yimou Lee and Sarah Wu; Additional reporting by Josh Horwitz in Shanghai; additional reporting by the Mexico City newsroom; Editing by Christopher Cushing and Gerry Doyle)

    BEIJING/TAIPEI (Reuters) -China and Nicaragua re-established diplomatic ties on Friday after the country broke relations with Chinese-claimed Taiwan, boosting Beijing in a part of the world long considered the United States’ backyard and increasing Taipei’s isolation.

    China has increased military and political pressure on Taiwan to accept its sovereignty claims, drawing anger from the democratically ruled island, which has repeatedly said it would not be bullied and has the right to international participation.

    China’s Foreign Ministry, announcing the decision after meetings with Nicaragua’s finance minister and two of President Daniel Ortega’s sons in the northern Chinese city of Tianjin, said the country had made the right decision.

    “This is the correct choice that conforms to the general trend and people’s aspirations,” it said.

    The severing of ties was lambasted by Taiwan, which now only has formal relations with 14 countries, mostly in Latin America and the Caribbean.

    Taiwan’s foreign ministry expressed “pain and regret”, saying that Ortega had disregarded the friendship between the peoples of Taiwan and Nicaragua. But Taipei was also defiant.

    “As a member of the international community, Taiwan has the right to exchange and develop diplomatic relations with other countries,” the ministry said.

    Taiwan Premier Su Tseng-chang said China was doing all it could to isolate Taiwan, but said it would not succeed.

    “We also see that many countries with the same values of democracy and freedom are paying more and more attention to Taiwan and supporting Taiwan,” he told reporters.

    The break with Taiwan is a blow to the United States.

    It follows months of worsening ties between Ortega and Washington, and came on the day the U.S. State Department said it had applied sanctions to Nestor Moncada Lau, a national security adviser to Ortega, alleging he operates an import and customs fraud scheme to enrich members of Ortega’s government.

    China says Taiwan is one of its provinces with no right to the trappings of a state, and has stepped up efforts to win away Taiwan’s remaining allies, especially in Central America and the Caribbean, with El Salvador and the Dominican Republic going over to Beijing in 2018, and Panama the year before.

    (Reporting by Yew Lun Tian, and Ben Blanchard, Yimou Lee and Sarah Wu; Additional reporting by Josh Horwitz in Shanghai; additional reporting by the Mexico City newsroom; Editing by Christopher Cushing and Gerry Doyle)

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