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Shipping Is Staying Cool About Taiwan

3 0 0
08.08.2022

U.S. House Speaker Nancy Pelosi’s visit to Taiwan brought an immediate response from Beijing: live-fire exercises in the waters surrounding the island for four days after her visit. China declared that additional drills in the Yellow and Bohai Seas, near South Korea and Japan, would follow until the end of the month—and stated that Taiwan’s “median line,” an unofficial division of space between the two sides, had never existed and would not be respected.

The shipping industry is paying close attention, as it did in the weeks before Russia’s invasion of Ukraine. On Feb. 15, maritime insurers decided an invasion was imminent and raised the Russian and Ukrainian waters to the industry’s highest risk category. At the moment, ships are still going to and from Taiwan. But whether supplies will keep arriving at the island nation and be exported from it depends on the shipping industry’s assessment of Beijing’s intentions.

This past weekend, China’s exercises proceeded with such an enormous show of strength that Taiwan’s defense ministry declared the assault to be a simulated attack on Taiwan’s main island.

U.S. House Speaker Nancy Pelosi’s visit to Taiwan brought an immediate response from Beijing: live-fire exercises in the waters surrounding the island for four days after her visit. China declared that additional drills in the Yellow and Bohai Seas, near South Korea and Japan, would follow until the end of the month—and stated that Taiwan’s “median line,” an unofficial division of space between the two sides, had never existed and would not be respected.

The shipping industry is paying close attention, as it did in the weeks before Russia’s invasion of Ukraine. On Feb. 15, maritime insurers decided an invasion was imminent and........

© Foreign Policy


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