February 22, 2008

Taiwan Reunification Watch - Update

A big significant step taken in the Beijing - Taipei thaw reported today by the London Financial Times. Fubon Bank of Taiwan will be allowed to buy a 20% stake of Xiamen Commercial Bank (of Xiamen on the mainland side of the Taiwan straits) through its Hong Kong susidiary with the Hong Kong Monetary Authority acting as go-between.

This is yet another example of how Beijing will use Hong Kong as intermediary (if not overt example) for its absorption of Taiwan. Gaze at the geography of greater Xiamen in the map above - could it be another Hong Kong in the making? Nothing prevents it but outdated (and non-Chinese) ideology...

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