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Free AccessFormer PM Calls For 'Economic NATO' Against China In Taiwan Speech
(MNI) London-Delivering a speech in the Taiwanese capital Taipei, former UK Prime Minister Liz Truss has called for the creation of an 'economic NATO' to counter China's growing presence, arguing that existing organisations such as the WTO and UN Security Council are not reliable forums and that a new “network of liberty” should be established. Truss' speech comes at an inopportune time for the gov't of PM Rishi Sunak in Westminster.
- In a recent policy speech, Foreign Secretary James Cleverly sought to distance the Sunak gov't from the more hawkish stance of his short-lived predecessor Truss, advocating a more pragmatic stance towards Beijing rather than an outright hawkish one.
- The Chinese Embassy in London called Truss' speech a “dangerous political stunt”. However, it is not anticipated that there will be a reaction from Beijing like that seen when then-Speaker of the US House of Representatives Nancy Pelosi (D-CA) visited Taiwan in mid-2022. Then, the Chinese military engaged in mass exercises mirroring an invasion of Taiwan and engaged in live-fire naval drills close to the island. Truss is no longer a UK government minister and has been significantly marginalised as a presence within the governing centre-right Conservative party, compared to Pelosi who was third-in-line for the US presidency at the time of her visit.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.