Reuters is carrying a piece today that says Taiwan has complained that China paid the Dominican Republic $3.1 billion to stop trading with Taiwan. The deal is loans and grants that pay to cut ties with Taiwan, which China says has no right to parlay trade agreements with other countries. Panama had such a deal too (the article failed to mention the Philippines arrangement that accomplishes the same thing).
So, can we buy them back? This is absolute corruption that does not benefit the Republic, but does serve to economically isolate Taiwan. The amazing thing is the Chinese can do this in the open with no complaints from anyone. We should stop buying tobacco from the Dominican Republic (why do we buy $653 million from them?), which we certainly don’t need, and let that serve as a warning against selling political loyalties. Let the Chinese buy that tobacco. I’m sure they would.
By the way, China announced this week that it was opening up diplomatic relations with the Dominican Republic. They are best of friends now.
See also my post on China squeezing Taiwan.
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