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Panama Ends Ties with Taiwan, Recognizes New ‘One China’ Relationship

Panama, one of the few countries to recognize Taiwan’s sovereignty, has cut ties with the island and forged relations with China, adding there there was “only one China” of which Taiwan was a part.

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Panama, one of the few countries to recognize Taiwan’s sovereignty, has cut ties with the island and forged relations with China, adding there there was “only one China” of which Taiwan was a part.

U.S. President-elect Donald Trump on Tuesday named Robert Lighthizer, an official in the Reagan administration and harsh critic of China's trade practices, to be his chief trade negotiator, responsible for better deals aimed at reducing U.S. trade deficits.

China's role in the global economy keeps expanding, and over the past 25 years, it has gone from 11th largest to second, the country’s economy is now 60% that of the US, and that means its role in determining global demand is critical, however, China’s relationship with the world is changing, this report sets out to examine these changes and what they mean for China and the rest of the world.

Driven by the “One Belt, One Road” initiative to recreate the ancient Silk Road, the overland and maritime trading route connecting Asia and Europe, China's non-financial direct investment abroad grew 54 per cent in the first nine months of 2016 to $134 billion, surpassing the $121 billion for the whole of the previous year.