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Taiwan says war with China ‘absolutely’ not an option, but bolstering defenses

War between Taiwan and China is “absolutely not an option,” Taiwan President Tsai Ing-wen said on Monday (Oct 10), as she reiterated her willingness to talk to Beijing and also pledged to boost the island’s defenses including with precision missiles.
Democratic Taiwan, which China claims as its territory, has come under increasing military and political pressure from Beijing, especially after Chinese war games in early August following a Taipei visit by US House Speaker Nancy Pelosi.
Any conflict over Taiwan could drag in the US, Japan and perhaps much of the world, as well as shatter the global economy, especially given Taiwan’s dominant position as a maker of semiconductors used in everything from smartphones and tablets to fighter jets.
Tsai, in her national day speech outside the presidential office under a gray sky, said it was “regrettable” that China had escalated its intimidation and threatened peace and stability in the Taiwan Strait and region.
She said that China should not think there is room for compromise in the commitment of Taiwan’s people to democracy and freedom.

“I want to make clear to the Beijing authorities that armed confrontation is absolutely not an option for our two sides. Only by respecting the commitment of the Taiwanese people to our sovereignty, democracy, and freedom can there be a foundation for resuming constructive interaction across the Taiwan Strait.”
There was no immediate reaction from Beijing.
China calls Tsai - re-elected by a landslide in 2020 on a promise to stand up to Beijing - a separatist and refuses to speak to her.
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Tsai said, to applause, that her government looked forward to the gradual post-pandemic resumption of healthy and orderly people-to-people exchanges across the strait, which would ease tensions.
But the broad consensus in Taiwan is that its sovereignty and free and democratic way of life must be defended, she added.
She said: “On this point, we have no room for compromise."
Tsai has made strengthening Taiwan’s defenses a cornerstone of her administration to enable it to mount a more credible deterrence to China, which is ramping up an ambitious modernisation program of its own military.
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Tsai said that Taiwan will show the world it is taking responsibility for its own defense.
Taiwan is increasing mass production of precision missiles and high-performance naval vessels, and working to acquire small, highly mobile weapons that will ensure Taiwan is fully prepared to respond to “external military threats”, she added.
The military tensions have raised concerns, especially in the US, about the concentration of chip making in Taiwan.
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She said: “I want to specifically emphasize one point to my fellow citizens and the international community, which is that the concentration of the semiconductor sector in Taiwan is not a risk."
She added: “We will continue to maintain Taiwan’s advantages and capacity in leading-edge semiconductor manufacturing processes, and will help optimize the worldwide restructuring of the semiconductor supply chain, giving our semiconductor firms an even more prominent global role."
Source: alarabiya
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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