Joseph Tsai buys Barclays Center, becomes sole owner of Brooklyn Nets

Brooklyn Nets owner Mikhail Prokhorov has agreed to sell full ownership of Barclays Center and his 51% controlling interest in the Nets to Alibaba co-founder Joseph Tsai. “It has been an honor and a joy to open Barclays Center, bring the Nets to Brooklyn, and watch them grow strong roots in the community while cultivating global appeal,” said Prokhorov in a press release. The purchase makes Tsai, who previously owned 49% of the basketball team, the sole owner of the Nets. The current NBA sales r


Brooklyn Nets owner Mikhail Prokhorov has agreed to sell full ownership of Barclays Center and his 51% controlling interest in the Nets to Alibaba co-founder Joseph Tsai. “It has been an honor and a joy to open Barclays Center, bring the Nets to Brooklyn, and watch them grow strong roots in the community while cultivating global appeal,” said Prokhorov in a press release. The purchase makes Tsai, who previously owned 49% of the basketball team, the sole owner of the Nets. The current NBA sales r
Joseph Tsai buys Barclays Center, becomes sole owner of Brooklyn Nets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: elijah shama
Keywords: news, cnbc, companies, tsai, record, nets, center, team, global, prokhorov, brooklyn, joseph, owner, barclays, purchase, sole, buys


Joseph Tsai buys Barclays Center, becomes sole owner of Brooklyn Nets

Brooklyn Nets owner Mikhail Prokhorov has agreed to sell full ownership of Barclays Center and his 51% controlling interest in the Nets to Alibaba co-founder Joseph Tsai.

“It has been an honor and a joy to open Barclays Center, bring the Nets to Brooklyn, and watch them grow strong roots in the community while cultivating global appeal,” said Prokhorov in a press release.

“The team is in a better place today than ever before and I know that Joe will build on that success, while continuing to deliver the guest experience at Barclays Center that our fans, employees, and colleagues in the industry enjoy.”

The purchase makes Tsai, who previously owned 49% of the basketball team, the sole owner of the Nets.

Rachel Lewis, a spokesperson for BSE global declined to comment on the price of the sale, but the team is reportedly valued at a record $2.35 billion.

The current NBA sales record came last year after hedge fund owner David Tepper acquired the NFL’s Carolina Panthers for $2.2 billion. Tilman Fertitta, owner of restaurant chain Landry’s, also paid $2.2 billion to purchase the NBA’s Houston Rockets in 2017.


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: elijah shama
Keywords: news, cnbc, companies, tsai, record, nets, center, team, global, prokhorov, brooklyn, joseph, owner, barclays, purchase, sole, buys


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Alibaba’s Joseph Tsai to buy Brooklyn Nets in deal valuing team at record $2.35 billion, media reports

12 of the Brooklyn Nets shoots against Fred VanVleet No. 23 of the Toronto Raptors at Barclays Center on April 3, 2019 in Brooklyn, New York. Joseph Tsai, the billionaire co-founder of e-commerce giant Alibaba, is in talks to buy the remaining 51% of the Brooklyn Nets basketball team from Russian billionaire Mikhail Prokhorov, according to The New York Post. Tilman Fertitta, owner of restaurant chain Landry’s, also paid $2.2 billion to purchase the NBA’s Houston Rockets in 2017. Stuart Bryan, a


12 of the Brooklyn Nets shoots against Fred VanVleet No. 23 of the Toronto Raptors at Barclays Center on April 3, 2019 in Brooklyn, New York. Joseph Tsai, the billionaire co-founder of e-commerce giant Alibaba, is in talks to buy the remaining 51% of the Brooklyn Nets basketball team from Russian billionaire Mikhail Prokhorov, according to The New York Post. Tilman Fertitta, owner of restaurant chain Landry’s, also paid $2.2 billion to purchase the NBA’s Houston Rockets in 2017. Stuart Bryan, a
Alibaba’s Joseph Tsai to buy Brooklyn Nets in deal valuing team at record $2.35 billion, media reports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: elijah shama
Keywords: news, cnbc, companies, tsai, brooklyn, buy, paid, joseph, valuing, nets, york, deal, team, owner, reports, record, billion, media, remaining, billionaire


Alibaba's Joseph Tsai to buy Brooklyn Nets in deal valuing team at record $2.35 billion, media reports

Joe Harris No. 12 of the Brooklyn Nets shoots against Fred VanVleet No. 23 of the Toronto Raptors at Barclays Center on April 3, 2019 in Brooklyn, New York.

Joseph Tsai, the billionaire co-founder of e-commerce giant Alibaba, is in talks to buy the remaining 51% of the Brooklyn Nets basketball team from Russian billionaire Mikhail Prokhorov, according to The New York Post.

The deal, which is expected to be announced this week, would value the team at $2.35 billion, according to unnamed sources cited by the New York Post.

If approved, it would be the highest price ever paid for a sports franchise. The current record came last year after hedge fund owner David Tepper acquired the NFL’s Carolina Panthers for $2.2 billion. Tilman Fertitta, owner of restaurant chain Landry’s, also paid $2.2 billion to purchase the NBA’s Houston Rockets in 2017.

Stuart Bryan, a spokeswoman for BSE Global, which manages and controls the Brooklyn Nets, declined to comment. CNBC couldn’t verify the details of the deal.

Tsai already owns 49% of the Nets, which he bought for $1 billion in 2017. At that time, the 55-year-old businessman locked in the right to buy the remaining 51% of the team before the within four years for an additional $1.35 billion, Bloomberg News reported at the time.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: elijah shama
Keywords: news, cnbc, companies, tsai, brooklyn, buy, paid, joseph, valuing, nets, york, deal, team, owner, reports, record, billion, media, remaining, billionaire


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Taiwan’s president is planning another stopover in the US. China will be infuriated

Taiwan’s President Tsai Ing-wen waves while registering as the ruling Democratic Progressive Party (DPP) 2020 presidential candidate at the party’s headquarter in Taipei on March 21, 2019. Taiwan’s president is expected to transit in the U.S. on Friday for the second time this month, when she returns from visiting diplomatic allies in the Caribbean — a move that will make China very angry. Tsai Ing-wen, the island’s pro-independence leader, is due to make her second stopover in Denver on Friday.


Taiwan’s President Tsai Ing-wen waves while registering as the ruling Democratic Progressive Party (DPP) 2020 presidential candidate at the party’s headquarter in Taipei on March 21, 2019. Taiwan’s president is expected to transit in the U.S. on Friday for the second time this month, when she returns from visiting diplomatic allies in the Caribbean — a move that will make China very angry. Tsai Ing-wen, the island’s pro-independence leader, is due to make her second stopover in Denver on Friday.
Taiwan’s president is planning another stopover in the US. China will be infuriated Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: huileng tan
Keywords: news, cnbc, companies, ties, stopover, tsais, state, planning, taipei, tsai, china, president, selfruled, visit, infuriated, taiwan, taiwans, transit


Taiwan's president is planning another stopover in the US. China will be infuriated

Taiwan’s President Tsai Ing-wen waves while registering as the ruling Democratic Progressive Party (DPP) 2020 presidential candidate at the party’s headquarter in Taipei on March 21, 2019.

Taiwan’s president is expected to transit in the U.S. on Friday for the second time this month, when she returns from visiting diplomatic allies in the Caribbean — a move that will make China very angry.

Tsai Ing-wen, the island’s pro-independence leader, is due to make her second stopover in Denver on Friday.

“China opposes official exchange between the US and Taiwan. This position is firm and clear,” the Chinese foreign ministry said on July 12. The U.S. should not to allow Tsai’s transit and must “stop the official exchange with Taiwan,” said Geng Shuang, spokesperson for the Chinese foreign ministry.

The visit comes on the heels of the U.S. State Department recently approving a $2.2 billion sale of weapons to Taiwan— a self-ruled island viewed by Beijing as a breakaway province that has no right to state-to-state ties.

The timing of both is significant and reflects a “much higher risk tolerance from the Donald Trump administration when it comes to growing U.S.-Taiwan ties, ” said Kelsey Broderick, China analyst at the Eurasia Group, a risk consultancy.

The U.S. State Department sought to downplay Tsai’s visit, describing it as “private and unofficial.”

Earlier in July, Tsai transited through New York — another major U.S. city — when she was on her way to the Caribbean. That visit saw her meeting members of the U.S. Congress as well as representatives from Taiwan’s 17 remaining diplomatic allies, and speaking at Columbia University. She also addressed a 1,000-strong crowd of supporters, according to the Taipei Times.

Her visits come at a low point in U.S.-China relations. In addition to sparring over trade, the world’s two biggest economies are also at loggerheads over Taiwan.

Washington’s ties with the self-ruled island are technically unofficial. But under the Taiwan Relations Act, “the United States shall provide Taiwan with arms of a defensive character.”


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: huileng tan
Keywords: news, cnbc, companies, ties, stopover, tsais, state, planning, taipei, tsai, china, president, selfruled, visit, infuriated, taiwan, taiwans, transit


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As US-China relations sour, Taiwan’s value as a ‘chess piece’ may rise

Taiwan has always been a “chess piece” that Washington can play with in U.S.-China relations, said Zhiqun Zhu, a professor of political science and international relations at Bucknell University. “Taiwan’s value to the U.S. will only increase as tensions between the U.S. and China escalate,” Zhu told CNBC. Chinese President Xi Jinping has said before that China “must be and will be” reunified with Taiwan — by force if necessary. However, recent military and diplomatic actions from Washington hav


Taiwan has always been a “chess piece” that Washington can play with in U.S.-China relations, said Zhiqun Zhu, a professor of political science and international relations at Bucknell University. “Taiwan’s value to the U.S. will only increase as tensions between the U.S. and China escalate,” Zhu told CNBC. Chinese President Xi Jinping has said before that China “must be and will be” reunified with Taiwan — by force if necessary. However, recent military and diplomatic actions from Washington hav
As US-China relations sour, Taiwan’s value as a ‘chess piece’ may rise Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: shirley tay
Keywords: news, cnbc, companies, taiwans, sour, chess, ustaiwan, tsai, chinese, rise, china, grossman, uschina, trump, relations, beijing, taiwan, value, piece, president


As US-China relations sour, Taiwan's value as a 'chess piece' may rise

Taiwan’s President Tsai Ing-Wen waves to assembled guests from the deck of the ‘Ming Chuan’ frigate during a ceremony to commission two Perry-class guided missile frigates from the U.S. into the Taiwan Navy, in the southern port of Kaohsiung on November 8, 2018. Chris Stowers | AFP | Getty Images

As the United States and China remain deadlocked in a deepening dispute over trade and technology, some experts say Taiwan’s value as a bargaining chip has increased. The self-governed island — which Beijing deems to be a renegade Chinese province — is one of many flashpoints in the rivalry between the world’s two superpowers. Taiwan has always been a “chess piece” that Washington can play with in U.S.-China relations, said Zhiqun Zhu, a professor of political science and international relations at Bucknell University. “Taiwan’s value to the U.S. will only increase as tensions between the U.S. and China escalate,” Zhu told CNBC. Under the Chinese Communist Party’s “One China” policy, the self-ruled island is part of mainland China. Chinese President Xi Jinping has said before that China “must be and will be” reunified with Taiwan — by force if necessary. However, recent military and diplomatic actions from Washington have been seen by Beijing as U.S. support for Taiwan’s independence movement. At the Shangri-la dialogue in Singapore last weekend, Chinese Lieutenant General Shao Yuanming said Washington’s support for Taipei has sent “terribly wrong signals to Taiwan’s independence forces, which could undermine regional peace and stability. ” “If anyone wants to separate Taiwan from the country, the Chinese military will resolutely defend the unity of our motherland at all costs,” Shao added.

‘Upgrade’ in US-Taiwan relations

The U.S. using Taiwan as a card is a new factor in the dynamic of the trilateral relationship that “really did not exist” before President Donald Trump came into power, said Bonnie Glaser, senior advisor for Asia at Washington-based think tank Center for Strategic and International Studies (CSIS). “Trump is a transactional president and he often seems to be willing to put anything on the table,” she told CNBC. On the military front, the Trump administration has ramped up arms sales to Taipei over the years, invoking the ire of Beijing. Washington is reportedly preparing a sale of more than $2 billion worth of tanks and weapons to Taiwan. Diplomatic issues have also come to the fore. In May, high-level security officials from the U.S. and Taiwan met for the first time in nearly four decades, drawing an angry response from Beijing. Chinese Foreign Minister Lu Kang said Beijing is “strongly dissatisfied” with and “resolutely opposed” to any official meetings between the U.S. and Taiwan. “I believe we’re inching closer & closer to Beijing’s redline on US-Taiwan senior official mtgs–those that are publicized at least,” Derek Grossman, a senior defense analyst at California-based think tank RAND Corporation, said on Twitter after the U.S.-Taiwan meeting.

Chinese President Xi Jinping arrives for an event to commemorate the 40th anniversary of the Message to Compatriots in Taiwan at the Great Hall of the People January 2, 2019 in Beijing, China. Mark Schiefelbein | Pool | Getty Images

Grossman told CNBC on email that his understanding is that such meetings “have been ongoing for some time in private.” “My hunch is that it was publicized this time via intentional leak from one or both sides to signal to China that the upgrade in U.S.-Taiwan relations is here to stay,” he added.

Taiwan’s next leader is key

Taiwan is set to have its presidential elections in January 2020 — and experts said the polls would likely determine the direction of cross-strait ties. Grossman said that if the incumbent Taiwanese president Tsai Ing-Wen is re-elected, which is “likely,” cross-strait tensions are likely to escalate further from 2020 to 2024. Glaser from CSIS echoed that sentiment, adding that if a candidate from the independence-leaning Democratic Progressive Party was elected, China would ratchet up military, diplomatic and economic pressure. “I think the Chinese would be worried that there’s always this potential for things to go in a very negative direction because the combination of Trump being president and the possibility that Tsai gets re-elected … could really embolden Tsai to move toward the direction of independence,” she added.

China could miscalculate and think the United States would get involved in a conflict, and that would really be a very dangerous situation. Bonnie Glaser senior advisor for Asia at the Center for Strategic and International Studies

According to Grossman, the best hope for keeping tensions under wraps would be if a candidate from the opposition Kuomintang (KMT) party wins the next Taiwan presidential race and recognizes the “One China” policy. That said, Grossman added, public opinion polling in Taiwan has shown that voters will not likely support the opposition KMT in doing so. “The Taiwanese have been observing how China’s ‘One Country, Two Systems’ approach has worked out in Hong Kong, and it isn’t too inspiring,” Grossman added. A public opinion survey conducted by the Taiwan’s Mainland Affairs Council in May also found that 83.6% of Taiwan opposes Xi’s “one country, two systems” policy.

A ‘small’ risk of escalation


Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: shirley tay
Keywords: news, cnbc, companies, taiwans, sour, chess, ustaiwan, tsai, chinese, rise, china, grossman, uschina, trump, relations, beijing, taiwan, value, piece, president


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The US trade deficit with China ‘will reverse’ in the long term, Alibaba co-founder says

Tsai said there is a “symbiotic relationship” between American businesses with ties to China and vice versa. Alibaba, the online marketplace in China, has been cashing in on the industry where last quarter it outgrew total e-commerce by “several percentage points,” Tsai said. Last November, the executive chairman warned that a full-blown trade war between the countries would hurt many U.S. businesses that have ties to China. The U.S. has tariffs on $250 billion worth of Chinese goods, while Chin


Tsai said there is a “symbiotic relationship” between American businesses with ties to China and vice versa. Alibaba, the online marketplace in China, has been cashing in on the industry where last quarter it outgrew total e-commerce by “several percentage points,” Tsai said. Last November, the executive chairman warned that a full-blown trade war between the countries would hurt many U.S. businesses that have ties to China. The U.S. has tariffs on $250 billion worth of Chinese goods, while Chin
The US trade deficit with China ‘will reverse’ in the long term, Alibaba co-founder says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: tyler clifford
Keywords: news, cnbc, companies, number, ties, term, alibaba, cofounder, deficit, china, long, tsai, billion, tariffs, goods, chinese, trade, worth, reverse


The US trade deficit with China 'will reverse' in the long term, Alibaba co-founder says

China’s economy is being powered by consumers, he said, and the Chinese middle-class consumer base could nearly triple by 2030. Tsai said there is a “symbiotic relationship” between American businesses with ties to China and vice versa.

Alibaba, the online marketplace in China, has been cashing in on the industry where last quarter it outgrew total e-commerce by “several percentage points,” Tsai said. He pointed out that the platform carries a number of U.S. imports, such as juice from Ocean Spray and apples from Washington state. Last November, the executive chairman warned that a full-blown trade war between the countries would hurt many U.S. businesses that have ties to China.

The U.S. has tariffs on $250 billion worth of Chinese goods, while China has targeted duties on $110 billion worth of imports.

U.S. officials have indicated that negotiations have been productive but that a number of issues still need to be worked out.

Trump signaled on Tuesday that he would consider delaying his promise to hike tariffs on $200 billion worth of goods if a trade deal is not yet reached.

“We’re always glass half full. We’re in business, so we always hope for a benign environment,” Tsai said. “We remain optimistic that there’s going to be a resolution at some point.”


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: tyler clifford
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Taiwan takes a dig at Chinese democracy in new year message

Taiwan President Tsai Ing-wen took a dig at China’s lack of freedom in a message to mark Tuesday’s start of the Lunar New Year, saying she hoped ethnic Chinese all over the world could experience the “blessing” of democracy. Taiwan is able to maintain cultural traditions and is committed to uphold the values of freedom and democracy, Tsai said in the message, posted late on Sunday on her official social media accounts. We hope that ethnic Chinese all over the world can experience this blessing,”


Taiwan President Tsai Ing-wen took a dig at China’s lack of freedom in a message to mark Tuesday’s start of the Lunar New Year, saying she hoped ethnic Chinese all over the world could experience the “blessing” of democracy. Taiwan is able to maintain cultural traditions and is committed to uphold the values of freedom and democracy, Tsai said in the message, posted late on Sunday on her official social media accounts. We hope that ethnic Chinese all over the world can experience this blessing,”
Taiwan takes a dig at Chinese democracy in new year message Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: bloomberg, getty images
Keywords: news, cnbc, companies, chinese, tsai, message, freedom, party, takes, xi, democracy, china, democratic, ethnic, dig, taiwan


Taiwan takes a dig at Chinese democracy in new year message

Taiwan President Tsai Ing-wen took a dig at China’s lack of freedom in a message to mark Tuesday’s start of the Lunar New Year, saying she hoped ethnic Chinese all over the world could experience the “blessing” of democracy.

Self-governed Taiwan is China’s most sensitive issue and is claimed by Beijing as its sacred territory.

President Xi Jinping has stepped up pressure on the democratic island since Tsai, from the pro-independence Democratic Progressive Party, became president in 2016.

He kicked off 2019 with a speech warning that China reserves the right to use force to bring Taiwan under its control, though it will strive for peaceful “reunification”.

Taiwan is able to maintain cultural traditions and is committed to uphold the values of freedom and democracy, Tsai said in the message, posted late on Sunday on her official social media accounts.

“Those in places lacking democracy may not understand this commitment. We hope that ethnic Chinese all over the world can experience this blessing,” she added, without directly mentioning China.

“So I want to make three new year’s wishes for our ethnic Chinese friends both at home and abroad. I hope that you may all enjoy democracy, freedom and continued prosperity.”

There was no immediate reaction from Beijing. Xi’s new year’s speech, also on Sunday, did not mention Taiwan, apart from new year wishes to people on the island.

Taiwan is gearing up for presidential elections early next year. Tsai’s party suffered stinging losses to the China-friendly Kuomintang in mayoral and local elections in November.

Tsai has repeatedly called on China to respect Taiwan’s democracy, and to embrace democratic reforms itself.

Taiwan has shown no interest in being ruled by autocratic China, where Xi has overseen a sweeping crackdown on dissent since assuming office six years ago and the ruling Communist Party has tightened controls on all facets of society.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: bloomberg, getty images
Keywords: news, cnbc, companies, chinese, tsai, message, freedom, party, takes, xi, democracy, china, democratic, ethnic, dig, taiwan


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US warships pass through Taiwan Strait amid China tensions

The United States sent two warships through the Taiwan Strait on Thursday in the first such operation this year, the Taiwanese government said, as it increases the frequency of transits through the strategic waterway amid tensions with China. The voyage risks further heightening tensions with China, which considers Taiwan its own and has not ruled out the use of force to bring the self-ruled island under its control. The move will likely be viewed in Taiwan as a sign of support from U.S. Preside


The United States sent two warships through the Taiwan Strait on Thursday in the first such operation this year, the Taiwanese government said, as it increases the frequency of transits through the strategic waterway amid tensions with China. The voyage risks further heightening tensions with China, which considers Taiwan its own and has not ruled out the use of force to bring the self-ruled island under its control. The move will likely be viewed in Taiwan as a sign of support from U.S. Preside
US warships pass through Taiwan Strait amid China tensions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: smith collection, gado, getty images
Keywords: news, cnbc, companies, president, operation, pass, tsai, strait, voyage, china, ministry, warships, amid, taiwans, taiwan, sent, support, tensions


US warships pass through Taiwan Strait amid China tensions

The United States sent two warships through the Taiwan Strait on Thursday in the first such operation this year, the Taiwanese government said, as it increases the frequency of transits through the strategic waterway amid tensions with China.

The voyage risks further heightening tensions with China, which considers Taiwan its own and has not ruled out the use of force to bring the self-ruled island under its control.

Taiwan’s defense ministry said in a statement late on Thursday the ships were moving in a northerly direction and that their voyage was in accordance with regulations.

It said Taiwan closely monitored the operation to “ensure the security of the seas and regional stability”.

The move will likely be viewed in Taiwan as a sign of support from U.S. President Donald Trump’s government amid growing friction between Taipei and Beijing.

China has stepped up pressure on Taiwan since President Tsai Ing-wen, from the pro-independence ruling party, took office in 2016. It has regularly sent military aircraft and ships to circle the island on drills in the past few years.

Beijing sent several bombers and aircraft through the Bashi Channel, which separates Taiwan from the Philippines, earlier on Thursday, Taiwan’s defense ministry said in a separate statement.

A similar Chinese operation was conducted on Tuesday, the ministry said, and both were monitored closely.

Chinese President Xi Jinping said in early January China reserves the right to use force to bring Taiwan under its control. In response, Tsai vowed to defend the island’s democracy and called for international support to protect Taiwan’s way of life.

Trump recently signed into law the Asia Reassurance Initiative Act reaffirming the U.S. commitment to Taiwan, including arms sales.

Washington has no formal ties with Taiwan but is bound by law to help it defend itself and is its main source of arms.


Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: smith collection, gado, getty images
Keywords: news, cnbc, companies, president, operation, pass, tsai, strait, voyage, china, ministry, warships, amid, taiwans, taiwan, sent, support, tensions


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Taiwan appoints new prime minister after resignations over poll defeats

Taiwan on Friday appointed the former chairman of its ruling pro-independence party as premier, after the incumbent resigned along with the entire cabinet, in response to local election defeats. “Taiwan’s democracy and development must face certain challenges,” Tsai said, adding that China was looking to force its “one country, two systems” structure on the island. Taiwan’s premier forms the cabinet and runs the government on a day-to-day basis. Chinese President Xi Jinping, who has stepped up p


Taiwan on Friday appointed the former chairman of its ruling pro-independence party as premier, after the incumbent resigned along with the entire cabinet, in response to local election defeats. “Taiwan’s democracy and development must face certain challenges,” Tsai said, adding that China was looking to force its “one country, two systems” structure on the island. Taiwan’s premier forms the cabinet and runs the government on a day-to-day basis. Chinese President Xi Jinping, who has stepped up p
Taiwan appoints new prime minister after resignations over poll defeats Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11
Keywords: news, cnbc, companies, party, challenges, tsai, china, election, chinese, prime, resignations, appoints, president, minister, taiwans, taiwan, poll, defeats, premier


Taiwan appoints new prime minister after resignations over poll defeats

Taiwan on Friday appointed the former chairman of its ruling pro-independence party as premier, after the incumbent resigned along with the entire cabinet, in response to local election defeats.

The election losses in November presented a major challenge to President Tsai Ing-wen, who faced mounting criticism at home over her reform agenda while facing renewed threats from China, which considers the self-ruled island its own.

Tsai appointed Su Tseng-chang, a two-term former chairman of her Democratic Progressive Party (DPP), saying Taiwan faced challenges amid rising Chinese threats and trade tension between key backer the United States and China.

“Taiwan’s democracy and development must face certain challenges,” Tsai said, adding that China was looking to force its “one country, two systems” structure on the island.

Su vowed to lead the administration amid the challenges and learn from earlier mistakes.

“The situation is difficult and the task is tough,” he said.

Su’s appointment followed the widely expected resignation of William Lai, the second premier to quit since Tsai took office in 2016, in line with a practice of leaders quitting when their party loses a major election.

“I must resign to take responsibility for the election defeat,” Lai told a cabinet meeting earlier on Friday.

Taiwan’s premier forms the cabinet and runs the government on a day-to-day basis. New ministerial appointments are expected soon.

Just a year ahead of the next presidential election, analysts say Tsai and the new premier must shore up public support for the government’s policy on China ties and further boost the island’s export-reliant economy in a challenging year amid the China-U.S. trade war.

Su was appointed premier in 2006 by former president Chen Shui-bian, who infuriated Beijing and strained Taiwan’s relationship with the United States during his tenure from 2000 to 2008.

Su, nicknamed “light bulb” by his supporters for his bald head, has led Taiwan’s most populous New Taipei City for years.

He was defeated by a candidate from the China-friendly opposition Kuomintang in November.

Tsai has said her administration would reflect on the election defeats but would stand firm to defend Taiwan’s democracy in the face of renewed Chinese threats.

Chinese President Xi Jinping, who has stepped up pressure on Taiwan since Tsai became president, threatened this month to use force to bring the island under Beijing’s rule and urged “reunification.”

“The new premier not only has to focus on domestic matters but must also pay much more attention to cross-Strait and national security issues,” Yao Chia-wen, a senior adviser to the president, told Reuters.

He said the new premier must deal with issues such as the prevention of swine fever from China and possible election interference.

Some from within the embattled leader’s party have urged Tsai not to seek re-election. She has not explicitly said whether she would run for president in 2020 but has warned against Chinese efforts to interfere with elections.


Company: cnbc, Activity: cnbc, Date: 2019-01-11
Keywords: news, cnbc, companies, party, challenges, tsai, china, election, chinese, prime, resignations, appoints, president, minister, taiwans, taiwan, poll, defeats, premier


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Taiwan tells China to use peaceful means to resolve differences

China must use peaceful means to resolve its differences with Taiwan and respect its democratic values, Taiwanese President Tsai Ing-wen said on Tuesday, ahead of a major speech about the island by Chinese President Xi Jinping in Beijing. China fears Tsai wishes to push for Taiwan’s formal independence, though Tsai says she wants to maintain the status quo. “Here, I would like to call on China to face squarely the reality of the existence of the Republic of China on Taiwan,” Tsai said, referring


China must use peaceful means to resolve its differences with Taiwan and respect its democratic values, Taiwanese President Tsai Ing-wen said on Tuesday, ahead of a major speech about the island by Chinese President Xi Jinping in Beijing. China fears Tsai wishes to push for Taiwan’s formal independence, though Tsai says she wants to maintain the status quo. “Here, I would like to call on China to face squarely the reality of the existence of the Republic of China on Taiwan,” Tsai said, referring
Taiwan tells China to use peaceful means to resolve differences Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-01  Authors: ashley pon, getty images news, getty images
Keywords: news, cnbc, companies, xi, office, taiwans, formal, tsai, resolve, differences, means, islands, peaceful, political, tells, china, taiwan


Taiwan tells China to use peaceful means to resolve differences

China must use peaceful means to resolve its differences with Taiwan and respect its democratic values, Taiwanese President Tsai Ing-wen said on Tuesday, ahead of a major speech about the island by Chinese President Xi Jinping in Beijing.

China has heaped pressure on Tsai since she took office in 2016, cutting off dialogue, whittling down Taiwan’s few remaining diplomatic allies and forcing foreign airlines to list Taiwan as part of China on their websites.

China fears Tsai wishes to push for Taiwan’s formal independence, though Tsai says she wants to maintain the status quo. Beijing has regularly sent military aircraft and ships to circle the island on drills.

Taiwan is gearing up for presidential elections in a year’s time. Tsai’s pro-independence Democratic Progressive Party suffered stinging losses to the China-friendly Kuomintang in mayoral and local elections in November.

In a new year’s address at the presidential office in Taipei, Tsai said the two sides of the Taiwan Strait needed a pragmatic understanding of the basic differences that exist between them in terms of values and political systems.

“Here, I would like to call on China to face squarely the reality of the existence of the Republic of China on Taiwan,” Tsai said, referring to the island’s formal name.

China “must respect the insistence of 23 million people on freedom and democracy, and must use peaceful, on parity means to handle our differences,” she added.

China’s interference in the island’s political and social development is “Taiwan’s biggest challenge at the moment,” Tsai said. China denies any interference in Taiwan’s internal affairs.

China views Taiwan as a wayward province, to be brought under its control by force if needed, with no right to international recognition as a separate political entity.

Democratic Taiwan has shown no interest in being ruled by autocratic China.

Liu Jieyi, head of China’s Taiwan Affairs Office, said in his new year’s message they had not wavered last year in the face of “deliberate provocations” from Taiwan’s government.

“Although the way ahead won’t all be plain sailing, we have the confidence and the ability to vanquish risks and challenges,” he said in a statement on the office’s website.

On Wednesday, Xi will give a speech to mark 40 years since a key policy statement that eventually led to a thaw in relations with Taiwan, the “Message to Compatriots in Taiwan.”

On Jan. 1, 1979, China declared an end to what had been routine artillery bombardment of Taiwan-controlled offshore islands close to China and offered to open up communications between the two sides, after decades of hostility.

Chiang Kai-shek fled with defeated Nationalist forces to Taiwan in December 1949 after losing a civil war to the Communists.

Despite the deep business, cultural and personal links which exist today, no peace treaty or formal end to hostilities has been signed.


Company: cnbc, Activity: cnbc, Date: 2019-01-01  Authors: ashley pon, getty images news, getty images
Keywords: news, cnbc, companies, xi, office, taiwans, formal, tsai, resolve, differences, means, islands, peaceful, political, tells, china, taiwan


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Taiwan president says ‘status quo’ policy on China won’t change after election drubbing

Taiwan’s policy of maintaining the status quo with China won’t change despite a drubbing at local elections for the ruling party, Taiwan President Tsai Ing-wen said on Friday, adding democracy was the biggest difference with China. Meeting a delegation from the U.S.-based National Committee on American Foreign Policy, Tsai reiterated that her China policy would not change, and that people were voting on local issues rather than on ties across the Taiwan Strait. “We basically do not believe that


Taiwan’s policy of maintaining the status quo with China won’t change despite a drubbing at local elections for the ruling party, Taiwan President Tsai Ing-wen said on Friday, adding democracy was the biggest difference with China. Meeting a delegation from the U.S.-based National Committee on American Foreign Policy, Tsai reiterated that her China policy would not change, and that people were voting on local issues rather than on ties across the Taiwan Strait. “We basically do not believe that
Taiwan president says ‘status quo’ policy on China won’t change after election drubbing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: damir sagolj
Keywords: news, cnbc, companies, status, wont, policy, change, taiwans, ties, china, drubbing, president, taiwan, election, tsai, elections, local, quo


Taiwan president says 'status quo' policy on China won't change after election drubbing

Taiwan’s policy of maintaining the status quo with China won’t change despite a drubbing at local elections for the ruling party, Taiwan President Tsai Ing-wen said on Friday, adding democracy was the biggest difference with China.

The pro-independence Democratic Progressive Party (DPP) suffered a serious set-back at the Saturday polls, loosing key cities in mayoral elections to the China-friendly Kuomintang, including the former DPP stronghold of Kaohsiung in the south.

China has heaped pressure on Tsai since she took office in 2016, believing she wishes to push for the island’s formal independence, a red line for Beijing which claims self-ruled Taiwan as its own.

Meeting a delegation from the U.S.-based National Committee on American Foreign Policy, Tsai reiterated that her China policy would not change, and that people were voting on local issues rather than on ties across the Taiwan Strait.

“We basically do not believe that in this local election people made a choice on the cross-strait policy issue or made a major change,” Tsai said, in comments carried live on her Facebook page.

“So our policy on maintaining the status quo will remain unchanged,” she added.

“While the DPP’s performance left us disappointed, democratic elections are our most cherished asset and our greatest difference with China.”

Beijing has barely contained its glee at the election result, saying it showed Taiwan’s people’s desire for better ties with China.

Tsai said there were challenges in the election, including fake news exacerbated by “outside forces” — a reference to China — something she said any democracy faces.

Tsai faces re-election in a little over a year’s time at Taiwan’s next presidential vote.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: damir sagolj
Keywords: news, cnbc, companies, status, wont, policy, change, taiwans, ties, china, drubbing, president, taiwan, election, tsai, elections, local, quo


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