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Explanation
The Chinese Civil War did not end in 1949 but only paused.
Taiwan represents the then losing side. Several Islands close
to the mainland are still controlled by Taiwan.
China threatens to attack if Taiwan declares formal independence.
However, until recently a deterrent would have been that they
would lose Taiwan's money needed for investment. The growth in
mainland China's economy suggests that Taiwan's capital is less
necessary now (2006).
The United States is involved because the US has guaranteed
the security of Taiwan in the past. However, the US is now dependent
on China.
China has re-stated as official policy that they will not
tolerate a declaration of formal independence by Taiwan, which
they regard as a part of China, temporarily separated.
As China becomes richer and more powerful, largely at the
expense of the United States, its government becomes more emphatic
about its desire not to see Taiwan become formally independent.
In February the Chinese protested about the US contract to provide
modern weapons to Taiwan. In what might have been a retaliation
the Chinese sold US Treasury Bonds, part of the US indebtedness
to China. If they sold more, the US could become bankrupt.
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