AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

Taiwan severed ties with the Solomon Islands on Monday after learning the Pacific nation was switching diplomatic recognition to China, as Taipei accused Beijing of using "dollar diplomacy" to buy off its few remaining allies.
The switch is a major coup for Beijing just weeks before it celebrates the 70th anniversary of the founding of the People's Republic of China.
And it leaves Taiwan more isolated than ever with just 16 nations left that recognise it.
Taiwan's foreign minister Joseph Wu said Taipei had learned that the cabinet of Solomons Prime Minister Manasseh Sogavare had made the decision to recognise Beijing earlier Monday.
"The government hereby declares the termination of diplomatic relations with the Solomon Islands with immediate effect," Wu said, adding Taiwanese diplomats were being withdrawn from Honiara and that Solomons envoys would be expected to do the same.
"The government of China has once again resorted to dollar diplomacy and false promises of large amounts of foreign assistance to buy off a small number of politicians," Wu added.
Taiwan's President Tsai Ing-wen said she felt "strong regret and condemnation" over the decision, while in Beijing, the move was hailed.
"We welcome the Solomon Islands in seizing a historical opportunity," Chinese foreign ministry spokeswoman Hua Chunying said in a statement.
Sogavare, who governs through a coalition after an April election, had been under intense pressure from parliamentary colleagues who saw little benefit in staying with the shrinking band of nations that officially recognise Taipei.
He had publicly said China was seen as more likely to provide significant infrastructure funding to the impoverished nation, where less than 50 percent of the population have access to electricity.
He also said switching to China would give the Solomons greater leverage over traditional regional powers, citing Fiji, which shrugged off sanctions imposed by Australia and New Zealand following a 2006 military coup by boosting relations with China.
Taiwan has been a de facto sovereign nation since the end of a civil war in 1949, but China still views the island as its territory and has vowed to seize it - by force if necessary.
Over the decades, as China's economic and military power has grown, most countries, including the United States and most Western nations, switched recognition to Beijing.
In the last decade, only a handful of nations remained loyal to Taiwan, largely in Latin America and the Pacific.
But Beijing stepped up its campaign to diplomatically isolate Taiwan after Tsai's 2016 landslide election because she hails from a party that refuses to recognise the idea that the island is part of "one China".
It has also ramped up military drills and squeezed the island economically.
The small African nation of Sao Tome and Principe was the first to fall, switching recognition to Beijing in late 2016, followed by Burkina Faso and then three Latin American nations: Panama, El Salvador and the Dominican Republic. Tsai is seeking re-election in January polls that will be dominated by relations with China.

Copyright Agence France-Presse, 2019

Comments

Comments are closed.