Taiwan

The leaders also drafted a proposed legislation earlier this month that promises treaty-like benefits for businesses seeking cross-border investment opportunities via the tax code.

Taiwan’s defense ministry said China sent 71 warplanes and seven naval vessels on “strike drills”⁠ — rehearsals for conflict ⁠— into its air-defense zones.

“In the last 2,500 years, every Chinese government that has fallen, has fallen over food,” says Kuehl, Armada chief economist. “They need those import markets—be it from the U.S, Canada, Brazil or Australia.”