Pelosi lands in Taiwan as US-China tensions threaten to boil over

US House of Representatives Speaker Nancy Pelosi landed in Taipei on Tuesday on a visit that could significantly escalate tensions with Beijing.

The US Air Force jet carrying Pelosi and her colleagues touched down at Taipei's Songshan airport at 10:45pm local time following a roughly seven-hour flight from Kuala Lumpur, Malaysia, Reuters reports.

The military aircraft followed a circuitous route in order to avoid the South China Sea.

Soon after landing, Pelosi took to Twitter, writing that her delegation's visit honoured "America's unwavering commitment to supporting Taiwan's vibrant Democracy".

She added: "America's solidarity with the 23 million people of Taiwan is more important today than ever" and that her visit "in no way contradicts longstanding United States policy."

"The United States continues to oppose unilateral efforts to change the status quo" she said.

Last month, The US State Department updated its fact sheet on Taiwan again to reinstate a line about not supporting formal independence for the Chinese-claimed, democratically governed island.

Pelosi and her delegation were greeted by Taiwan's foreign minister, Joseph Wu and Sandra Oudkirk, the top US representative in Taiwan.

Pelosi, a long-time China critic, will meet with Taiwan President Tsai Ing-wen later on Wednesday and a group of activists who are outspoken about China's human rights record, Reuters reported.

China had flexed its military muscle as the visit drew closer. Several Chinese warplanes flew close to the median line dividing the Taiwan Strait, a source told Reuters.

In addition to Chinese planes flying close to the median line of the strait, several Chinese warships have also sailed near the unofficial dividing line since Monday, the source told Reuters.

Four US warships, including an aircraft carrier, have also been positioned in waters east of the island on "routine" deployments.

The trip, which is not backed by President Biden, is the highest-level US visit to Taiwan since 1997, when former House Speaker Newt Gingrich led a congressional delegation there.

But unlike Biden, Gingrich, lends the bold visit his full support.

In an interview with VOA's Mandarin Service, Gingrich expressed support for Pelosi's trip, which he said will likely only amount to "an irritation" to US-China ties. "I think this is at one level a lot of noise about nothing," Gingrich said.

The visit has angered Beijing which said it will never "sit idly" if the visit by Pelosi came to fruition.

Chinese foreign ministry spokesperson Zhao Lijian reiterated earlier warnings on Monday, saying "there will be serious consequences if she insists on making the visit".

In a phone call on Thursday, Chinese President Xi Jinping warned his US counterpart Joe Biden against "playing with fire" over Taiwan, as the pair held their fifth call as leaders at a time of simmering economic and geopolitical tensions.

China sees self-ruled Taiwan as a breakaway province that will eventually be part of the country.

Pelosi's position on China is no secret.

In 1991, two years after large-scale protests in Beijing were crushed by the Chinese government, she visited Tiananmen Square and displayed a banner honouring the deceased demonstrators.

In 2002, at a meeting with then-Chinese vice-president Hu Jintao, Pelosi tried to pass him four letters expressing concern over the detention and imprisonment of activists in China and Tibet, and calling for their release.

Over the years, Pelosi has also pushed for China's trade status to be linked to its human rights record, and to attach conditions to China's entry to the World Trade Organization, the BBC report added.

The standoff between the US and China over Taiwan has thrown a spotlight on growing risks to one of the world's busiest shipping lanes – even a minor disruption could ripple through supply chains, Bloomberg reported. 

Meanwhile, Taiwan is preparing its air-raid shelters as rising tension with China and Russia's invasion of Ukraine raise new fears about the possibility of a Chinese attack on the democratic island, Reuters reported.

Markets brace for impact

Traders braced for Pelosi's expected arrival in Taipei on Tuesday, with Asian stocks sliding, Bloomberg reported.

Taiwan's benchmark stock index fell as much as 2.1%, Hong Kong and Chinese shares slumped, while the Japanese currency touched a two-month high. Ten-year Treasury yields dropped for a fifth day and approached 2.5%, a level last seen in April. The Taiwan dollar hit its lowest since May 2020.

On China's part, it suspended imports from 35 Taiwanese exporters of biscuits and pastries since Monday.

Furthermore, semiconductor stocks fell globally on Tuesday ahead of the visit. Taiwan is home to the world's biggest manufacturer of semiconductors on contract.

Stocks in China posted their biggest fall in more than two months as mounting tensions unsettled Asian financial markets.

Meanwhile, Russia warned Washington that such a provocative trip would put the US on a collision course with Beijing, Reuters reported.

"We cannot say for sure right now whether she will or will not get there, but everything about this tour and the possible visit to Taiwan is purely provocative," Kremlin spokesman Dmitry Peskov told reporters.

Maria Zakharova, Russia's foreign ministry spokeswoman, said. "Russia confirms the principle of "one China" and opposes the independence of the island in any form," Zakharova said.

Washington does not have official diplomatic ties with Taiwan but is bound by US law to provide the island with the means to defend itself.