Singapore CNN —A war over Taiwan would be “devastating” and affect the global economy “in ways we cannot imagine,” US Defense Secretary Lloyd Austin has warned, as he underlined US support for the island democracy. “The whole world has a stake in maintaining peace and stability in the Taiwan Strait. And the right time to talk is now,” Austin said. “But we will not flinch in the face of bullying or coercion.”Austin reaffirmed US readiness in the region. Defense Minister Li addresses the Shangri-La forum on Sunday morning.

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Persons: Lloyd Austin, ” Austin, Austin, China’s, Xi Jinping, “, People’s Republic of China “, Li Shangfu, ”, ” Drew Thompson, Lee, Li, ” Thompson Organizations: Singapore CNN, US, Communist Party, Taiwan, Chinese Defense, Lee Kuan Yew, of Public, National University of Singapore, Defense Locations: Singapore, Taiwan, China, Taiwan Strait, Austin, People’s Republic of China, Beijing