Commentary
Mystery surrounds why Nancy Pelosi went to Taiwan, but there is no mystery about the trouble that visit caused. Sino-U.S. relations have become exponentially more tense than they already were.
Beijing has used impressive military exercises to make an even more impressive demonstration and even hinted at invasion. It remains an open question where matters will go from here. Because an invasion or blockade would dearly cost the world economy, especially China’s, economics would demand something much less dramatic than some of the speculation circulating in the media these days.
Of course, economics often takes a back seat behind geopolitics and national pride when it comes to war. But because an invasion or a blockade would surely bring economic ruin to an already struggling Chinese economy, its consideration might well tip the scale of probabilities away from some of the more radical options Beijing is entertaining….