trade and political tensions with china. the move sparked a warning from beijing, which considers taiwan part of chinese territory. samira hussain has more. trade between the united states and taiwan amounts to about $75 billion a year. that number is dwarfed by china s trade with taiwan, which stands at a massive $120 billion a year. by signing this trade deal, the us is looking to build its presence in asia and rival china. taiwan for its part is looking to reduce its economic dependence on china, especially in light of the geopolitical tensions between it and beijing. unsurprisingly, china did not react well, saying the united states should stop any form of official exchanges with taiwan under the guise of trade. beijing has stepped up threats and rhetoric against taiwan in recent years, increasing military drills in the seas around the island, and working to cut off its official ties with countries around the world. discussions between washington and taipei began in augus
against taiwan in recent years, increasing military drills in the seas around the island, and working to cut off its official ties with countries around the world. discussions between washington and taipei began in august of last year. this current agreement covers issues like customs with regard to trade, anti corruption measures, and investment opportunities for small and medium sized enterprises. let s stay on the topic of tensions between the us and china asia s biggest annual security summit gets under way later in singapore. defence leaders from more than a0 countries will meet at the shangri la hotel. as tensions continue to grow between the two countries, their defence spending is following a similar trend. monica miller reports. the escalating tension between the two countries is turning out to be costly for the us and china. beijing has increased its military spending by more than 7% this year as they try to modernise their military. however, the americans have ro
britain s new prime minister, rishi sunak, has moved into number ten and spent most of the day appointing senior members of the government. on arriving in downing street tuesday, he said the uk was facing a profound economic crisis , and made a point of saying that he d repair the damage caused by some of the policies of his predecessor liz truss. i will place economic stability and confident at the heart of this government s agenda. this will mean difficult decisions to come. he also named his new cabinet. there are a lot of changes butjeremy hunt will stay in the key post as chancellor. he was appointed just a few weeks ago after the failed mini budget. on monday, jeremy hunt is due to deliver a much anticipated statement on the government s tax and spending plans, along with analysis from the office for budget responsibility. joining me now is melanie baker senior uk economist at royal london asset management. there are some rumours that this fiscal event on 31 october
Fixed Deposits rates: These banks have hiked FD rates ahead of RBI MPC meeting next week. Check rates, tenures to invest businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
American banking behemoth Goldman Sachs has raised the growth forecast of the Indian Economy for 2024 from 6.6 per cent to 6.7 per cent. This means an increase of 0.1 per cent or 10 basis points. This comes on the back of expectations of an interest rate cut from the Reserve Bank of India, possibly in the next Monetary Policy Meeting in June 2024.