A team of US negotiators is in Beijing now for talks with the Chinese authorities on the EP-3 mid-air collision and to try and retrieve the plane. Achieving any substantial results in these talks is almost impossible, given the two sides' diametrically opposed goals.
Both sides have had time to stew in the past week, since "Round 1" of the collision incident ended with the US sending a letter that said it was "very sorry" and Beijing releasing the plane's 24 crew members. The Chinese military and public are not happy about getting just two refrains of "very sorry" after losing a fighter jet and a pilot. They think President Jiang Zemin
The two sides are likely to use a variety of issues -- including arms sales to Taiwan, Beijing's bid to host the 2008 Olympic Games and the granting of permanent normal trade relations to China -- as bargaining chips in the negotiations.
The New York Times has reported that some top White House officials want to postpone the sale of AEGIS-equipped destroyers to Taiwan and instead sell eight diesel-powered submarines and anti-sub airplanes. We hope this is not the final decision from the White House. We are also opposed to the US government using arms sales to Taiwan as a bargaining chip in any negotiations with Beijing.
During his meeting with Chinese Vice Premier Qian Qichen
Taiwan provided the US with voice communication records between the pilots of the two F-8 Chinese fighters involved in the EP-3 incident. This information allowed the US government to assert with confidence that its plane did nothing wrong. Taiwan assists the US in intelligence-gathering in the western Pacific and thus plays an important role in regional security. By helping Taiwan strengthen its defense capabilities, the US will be further ensuring the collective security of its allies across the Pacific. Japan, South Korea and Southeast Asian nations will benefit from a strong and self-confident Taiwan.
Failure to fulfill Taiwan's defense needs due to Beijing's objections -- at a time when China is quickly expanding its military power and stepping up its missile threat -- will be like leaving a tethered goat in front of a tiger's lair. This will not only harm Taiwan but also jeopardize the security of other US allies across the Pacific. If the US is worried that the Taiwan military may not be capable of operating the AEGIS-equipped ships, it can still start building the ships and training Taiwan's officers now. The EP-3 incident has shown once again that the China threat is right before our noses. The US has no reason and no need to read a competitor's mood before deciding to help an ally.
The EU’s biggest banks have spent years quietly creating a new way to pay that could finally allow customers to ditch their Visa Inc and Mastercard Inc cards — the latest sign that the region is looking to dislodge two of the most valuable financial firms on the planet. Wero, as the project is known, is now rolling out across much of western Europe. Backed by 16 major banks and payment processors including BNP Paribas SA, Deutsche Bank AG and Worldline SA, the platform would eventually allow a German customer to instantly settle up with, say, a hotel in France
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