The U.S. and the Philippines have carried out the largest-ever annual military exercises amid an escalation of Chinese military activity around Taiwan.
WSJ’s Shelby Holliday explains what makes this year’s drills different.
Photo: Jes Aznar/Getty ImagesWASHINGTON—Taiwan has begun preparing for a sharp rise in economic tension with China, stepping up efforts to encourage businesses to look for investments in the U.S. and other countries.
Businesses from the island are facing a sprawling Chinese trade investigation involving nearly 2,500 goods, including agricultural products, metals, plastics, chemicals and minerals.
The probe, which Beijing has said is in response to “trade barriers,” threatens to disrupt commerce to Taiwan’s top export destination.