Thought for the day

"The tendency has always been strong to believe that whatever received a name must be an entity or being, having an independent existence of its own. And if no real entity answering to the name could be found, men did not for that reason suppose that none existed, but imagined that." -- John Stuart Mill

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 Beijing cannot ignore the deployment of US Terminal High Altitude Area Defense (THAAD) systems in South Korea as it undermines China’s strategic security, Chinese Foreign Ministry spokesman Wang Wenbin said on Friday.

“China has always respected South Korea’s sovereignty and understood its security concerns, but the US deployment of THAAD missile systems in South Korea undermines China’s strategic security, and Beijing cannot ignore this,” Wang told a briefing.

An international LGBTQ gathering in Taiwan has been cancelled after global organisers demanded the self-ruling island’s name be removed from the 2025 event.

Taiwan on Friday blamed “political considerations” for the cancellation of the WorldPride 2025 Taiwan after it said the organisers had insisted that the name “Taiwan” be removed from the title.

US-China relations descended into a downward spiral in recent years, not least due to the US sending ever more ships to the disputed South China Sea and increasingly selling weapons to Taiwan, which Beijing considers a breakaway province.

China's ambassador to Russia, Zhang Hanhui, has told Sputnik that the US should "wake up" and cease attempts to maintain its global hegemony, which is increasingly waning every day.

Five U.S.-listed Chinese state-owned companies unexpectedly announced plans to delist from US exchanges over SEC audit requirementsBloomberg reported. In separate filings on the Hong Kong stock exchange, PetroChina, China Petroleum & Chemical, China Life Insurance, Sinopec Shanghai Petrochemical, and Aluminum Corp.

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The signing last week of a multi-pronged memorandum of understanding (MoU) between the Saudi Arabian Oil Company – formerly the Arabian American Oil Company - (Aramco) and the China Petroleum & Chemical Corporation (Sinopec) is a critical step in China’s ongoing strategy to secure Saudi Arabia as a client state. As the president of Sinopec, Yu Baocai, himself put it:

Tensions surrounding Taiwan eased a bit this week as China on Tuesday concluded its military exercises held around the island. Taiwan’s benchmark equity index closed above its 50-day moving average on Thursday for the first time since May 31.

For policy makers in both Beijing and Washington, however, the push to reduce economic dependence on each other appears far from over. US House Speaker Nancy Pelosi’s Taiwan trip and China’s military responses added tension and put decoupling on a fast track.

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Previously undisclosed details behind the July 28 phone call between President Joe Biden and China's Xi Jinping have been revealed Thursday, wherein the Chinese leader urged "Now isn't the time for a bull-blown crisis."

Taiwan on Thursday rejected China’s new white paper that calls for the island to be absorbed under “one country, two systems” and emphasizes Beijing’s goal for “peaceful reunification.”

Taiwan’s Mainland Affairs Council said “one country, two systems” was “unacceptable” and is “not an option for Taiwan.” The island’s Foreign Ministry slammed the release of the white paper, which came after China held its largest-ever military drills around the island in response to House Speaker Nancy Pelosi visiting Taipei.

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The son of House Speaker Nancy Pelosi, who quietly accompanied his mother on last week’s controversial trip to Taiwan where she called out China for its threatening moves toward the self-ruled island, holds a stake in a Chinese technology company, according to a report on Thursday.